Analysts Set Flowserve Co. (NYSE:FLS) PT at $64.30

Shares of Flowserve Co. (NYSE:FLS - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $64.30.

Several brokerages have issued reports on FLS. Stifel Nicolaus dropped their target price on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. TD Cowen upped their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Citigroup reduced their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th.

Flowserve Stock Up 0.4 %

NYSE FLS traded up $0.17 during mid-day trading on Tuesday, reaching $44.79. The stock had a trading volume of 554,016 shares, compared to its average volume of 1,266,532. The company has a fifty day moving average price of $48.23 and a 200 day moving average price of $55.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve has a 1 year low of $37.34 and a 1 year high of $65.08. The stock has a market cap of $5.90 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. On average, research analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Flowserve by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after acquiring an additional 101,668 shares during the last quarter. FIL Ltd lifted its position in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after buying an additional 2,193,904 shares in the last quarter. AQR Capital Management LLC grew its holdings in Flowserve by 9.7% during the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock valued at $168,272,000 after buying an additional 258,361 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Flowserve by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company's stock valued at $136,213,000 after buying an additional 38,340 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after acquiring an additional 714,063 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

About Flowserve

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.