Shares of Flowserve Co. (NYSE:FLS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,491,321 shares were traded during trading, an increase of 60% from the previous session's volume of 1,560,180 shares.The stock last traded at $48.13 and had previously closed at $50.52.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on FLS. Wall Street Zen upgraded Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Robert W. Baird cut their price objective on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Mizuho set a $60.00 price objective on shares of Flowserve in a research report on Friday, May 16th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $63.00.
View Our Latest Research Report on FLS
Flowserve Stock Performance
The company has a 50-day moving average price of $46.40 and a two-hundred day moving average price of $54.07. The stock has a market capitalization of $6.16 billion, a P/E ratio of 22.03, a PEG ratio of 1.35 and a beta of 1.21. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.
Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share 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 firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.
Flowserve Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.78%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.
Institutional Trading of Flowserve
Hedge funds have recently made changes to their positions in the stock. New York Life Investment Management LLC purchased a new stake in shares of Flowserve in the 4th quarter valued at $800,000. American Century Companies Inc. boosted its stake in shares of Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock valued at $6,384,000 after purchasing an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Flowserve in the 4th quarter worth approximately $422,000. Commonwealth Equity Services LLC increased its stake in Flowserve by 103.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock worth $1,197,000 after purchasing an additional 10,557 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new position in Flowserve in the 4th quarter worth approximately $278,000. 93.93% of the stock is owned by institutional investors.
About Flowserve
(
Get Free Report)
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.
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