Flowserve Corporation (NYSE:FLS) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Flowserve Corporation's stock has received an average recommendation of "Buy" from ten research firms, with one hold rating, eight buy ratings, and one strong buy rating.
• The average 12-month price target for Flowserve shares is $65.78, as reported by analysts, indicating potential for significant price appreciation.
• Flowserve has recently announced a quarterly dividend of $0.21, representing a 1.5% annualized yield, with a payout ratio of 38.01%.

Shares of Flowserve Corporation (NYSE:FLS - Get Free Report) have received an average recommendation of "Buy" from the ten ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $65.7778.

FLS has been the subject of several recent analyst reports. Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their target price on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Citigroup boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th.

Insiders Place Their Bets

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flowserve

Hedge funds have recently made changes to their positions in the stock. KPP Advisory Services LLC boosted its holdings in Flowserve by 2.3% during the second 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 in the last quarter. Delta Investment Management LLC lifted its holdings in shares of Flowserve by 3.2% in the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company's stock valued at $374,000 after purchasing an additional 237 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings 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 valued at $1,378,000 after purchasing an additional 238 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 258 shares in the last quarter. Finally, MJP Associates Inc. ADV lifted its holdings in shares of Flowserve by 6.2% in the second 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 in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of Flowserve stock traded down $1.03 on Friday, reaching $56.67. The company's stock had a trading volume of 3,630,142 shares, compared to its average volume of 1,817,322. 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 stock has a 50-day moving average price of $54.34 and a 200-day moving average price of $50.23. The company has a market capitalization of $7.41 billion, a P/E ratio of 25.64, a PEG ratio of 1.18 and a beta of 1.29. Flowserve has a 52-week low of $37.34 and a 52-week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion for 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%. Analysts expect that Flowserve will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 26th. Flowserve's payout ratio is 38.01%.

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.