Flowserve Co. (NYSE:FLS) Receives Average Rating of "Moderate Buy" from Brokerages

Flowserve Co. (NYSE:FLS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $67.50.

Several equities analysts recently commented on FLS shares. Robert W. Baird upped their target price on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Citigroup dropped their price objective on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Bank of America raised their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Flowserve from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd.

Flowserve Trading Down 0.7 %

Shares of FLS traded down $0.46 on Thursday, hitting $62.89. 603,232 shares of the stock traded hands, compared to its average volume of 1,204,735. Flowserve has a 1 year low of $40.78 and a 1 year high of $65.08. The stock's 50 day moving average is $60.58 and its two-hundred day moving average is $55.02. The firm has a market capitalization of $8.26 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Flowserve's dividend payout ratio (DPR) is currently 41.58%.

Hedge Funds Weigh In On Flowserve

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after purchasing an additional 37,132 shares during the period. Vestcor Inc purchased a new stake in Flowserve during the 3rd quarter worth $714,000. Stifel Financial Corp increased its stake in Flowserve by 14.0% during the 3rd quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock worth $12,619,000 after buying an additional 29,979 shares during the period. Algert Global LLC boosted its position in Flowserve by 130.3% in the 3rd quarter. Algert Global LLC now owns 109,079 shares of the industrial products company's stock valued at $5,638,000 after buying an additional 61,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock valued at $86,055,000 after acquiring an additional 422,141 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.