Flowserve (NYSE:FLS) PT Raised to $54.00

Flowserve (NYSE:FLS) had its price objective hoisted by UBS Group from $46.00 to $54.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

FLS has been the subject of several other reports. Stifel Nicolaus upped their target price on shares of Flowserve from $53.00 to $55.00 and gave the company a buy rating in a research note on Wednesday. Bank of America upped their target price on shares of Flowserve from $48.00 to $57.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Royal Bank of Canada increased their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Mizuho restated a buy rating and issued a $53.00 price objective (up previously from $50.00) on shares of Flowserve in a research note on Wednesday. Finally, Citigroup increased their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a buy rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $51.55.

Flowserve Price Performance

NYSE:FLS opened at $47.52 on Wednesday. The stock has a market cap of $6.26 billion, a P/E ratio of 26.85, a PEG ratio of 1.25 and a beta of 1.42. Flowserve has a one year low of $32.49 and a one year high of $49.35. The company has a fifty day moving average price of $45.45 and a 200 day moving average price of $41.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.27.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Analysts anticipate that Flowserve will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Institutional Investors Weigh In On Flowserve

Hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Flowserve during the 4th quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of Flowserve during the 1st quarter worth about $36,000. Raleigh Capital Management Inc. increased its position in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares in the last quarter. TFO Wealth Partners LLC increased its position in shares of Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,613 shares in the last quarter. Finally, CWM LLC grew its holdings in Flowserve by 153.0% during the 3rd quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after acquiring an additional 1,201 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.