Flowserve Co. (NYSE:FLS) Given Average Rating of "Buy" by Brokerages

Shares of Flowserve Co. (NYSE:FLS - Get Free Report) have been assigned a consensus rating of "Buy" from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One 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 1 year price target among analysts that have issued ratings on the stock in the last year is $63.00.

FLS has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. 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. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Robert W. Baird dropped their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus raised their price objective on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 1st.

Institutional Trading of Flowserve

A number of institutional investors and hedge funds have recently bought and sold shares of FLS. Vanguard Group Inc. increased its stake in Flowserve by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock worth $775,209,000 after buying an additional 101,668 shares during the period. FIL Ltd increased its position in Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after acquiring an additional 2,193,904 shares during the period. Wellington Management Group LLP raised its position in shares of Flowserve by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company's stock worth $237,185,000 after buying an additional 248,273 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Flowserve by 9.7% in the fourth 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 during the period. Finally, Earnest Partners LLC raised its position in Flowserve by 6.8% in the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company's stock worth $133,897,000 after acquiring an additional 173,528 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Trading Down 0.3%

FLS traded down $0.16 during mid-day trading on Wednesday, hitting $47.29. 3,953,073 shares of the stock were exchanged, compared to its average volume of 1,387,528. The company has a market cap of $6.18 billion, a PE ratio of 22.10, a PEG ratio of 1.35 and a beta of 1.26. Flowserve has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The firm's fifty day moving average is $46.41 and its two-hundred day moving average is $53.68.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the firm earned $0.58 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Flowserve's dividend payout ratio is presently 39.25%.

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.