Flowserve (NYSE:FLS) Price Target Raised to $56.00

Flowserve (NYSE:FLS - Free Report) had its target price hoisted by Citigroup from $50.00 to $56.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the industrial products company's stock.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. Robert W. Baird boosted their price objective on shares of Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Mizuho boosted their price objective on shares of Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Flowserve from a buy rating to a strong-buy rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $47.75.

Flowserve Trading Up 0.0 %

Flowserve stock traded up $0.02 during trading on Monday, reaching $47.90. The company had a trading volume of 1,767,693 shares, compared to its average volume of 1,099,942. Flowserve has a 12-month low of $31.92 and a 12-month high of $48.25. The stock's 50 day moving average price is $43.49 and its two-hundred day moving average price is $40.54. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.88.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. Flowserve's revenue was up 12.2% compared to the same quarter last year. As a group, equities analysts expect that Flowserve will post 2.54 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Thursday, March 28th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, March 27th. This is an increase from Flowserve's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. Flowserve's dividend payout ratio is 59.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLS. UBS Group AG raised its holdings in Flowserve by 332.7% in the third quarter. UBS Group AG now owns 269,672 shares of the industrial products company's stock valued at $10,725,000 after acquiring an additional 207,346 shares in the last quarter. HighTower Advisors LLC raised its holdings in Flowserve by 4.8% in the third quarter. HighTower Advisors LLC now owns 48,645 shares of the industrial products company's stock valued at $1,936,000 after acquiring an additional 2,235 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Flowserve in the third quarter valued at $29,745,000. Vanguard Group Inc. raised its holdings in Flowserve by 0.5% in the third quarter. Vanguard Group Inc. now owns 13,260,754 shares of the industrial products company's stock valued at $527,380,000 after acquiring an additional 71,320 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Flowserve by 150.7% in the third quarter. PNC Financial Services Group Inc. now owns 23,038 shares of the industrial products company's stock valued at $916,000 after acquiring an additional 13,847 shares in the last quarter. 93.93% of the stock is currently 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.