Flowserve Corporation (NYSE:FLS) Receives $65.78 Consensus PT from Brokerages

Shares of Flowserve Corporation (NYSE:FLS) have earned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $65.8750.

FLS has been the topic of a number of research analyst reports. Citigroup increased their price target on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. The Goldman Sachs Group upped their price target on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 31st.

Flowserve Price Performance

Shares of NYSE FLS opened at $51.26 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $6.70 billion, a PE ratio of 23.20, a P/E/G ratio of 1.03 and a beta of 1.27. The firm has a fifty day simple moving average of $53.69 and a 200 day simple moving average of $50.77. Flowserve has a twelve month low of $37.34 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. On average, sell-side analysts forecast that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 26th. Flowserve’s dividend payout ratio is currently 38.01%.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flowserve

Several large investors have recently made changes to their positions in the business. TD Private Client Wealth LLC bought a new stake in Flowserve in the 2nd quarter valued at about $25,000. First Horizon Advisors Inc. bought a new stake in shares of Flowserve during the 2nd quarter worth $26,000. Hilltop National Bank purchased a new position in shares of Flowserve in the 2nd quarter worth about $31,000. IFP Advisors Inc grew its holdings in shares of Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 418 shares during the period. 93.93% of the stock is owned by hedge funds and other 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.