Flowserve (NYSE:FLS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flowserve (NYSE:FLS) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flowserve in a research report on Saturday, September 27th. Stifel Nicolaus upped their target price on Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. The Goldman Sachs Group lifted their price target on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada upped their price objective on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $65.78.

Flowserve Stock Performance

FLS opened at $52.78 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08. The firm has a market cap of $6.90 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. The business’s fifty day moving average is $54.35 and its 200-day moving average is $50.60.

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

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a $0.21 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve’s dividend payout ratio (DPR) is currently 38.01%.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Flowserve

Several institutional investors have recently modified their holdings of the business. KPP Advisory Services LLC lifted its holdings in Flowserve by 2.3% during the 2nd quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock worth $514,000 after buying an additional 222 shares during the period. Delta Investment Management LLC raised its position in shares of Flowserve by 3.2% during the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 237 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock worth $1,378,000 after acquiring an additional 238 shares during the period. KBC Group NV boosted its holdings in Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 258 shares during the last quarter. Finally, MJP Associates Inc. ADV increased its position in Flowserve by 6.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 266 shares during the period. Institutional investors own 93.93% of the company’s stock.

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.