Flowserve (NYSE:FLS) Price Target Raised to $54.00 at UBS Group

Flowserve (NYSE:FLS) had its target price lifted by UBS Group from $46.00 to $54.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the industrial products company’s stock.

A number of other analysts have also weighed in on FLS. Stifel Nicolaus upped their price target on shares of Flowserve from $53.00 to $55.00 and gave the stock a buy rating in a research note on Wednesday. Bank of America increased their price target on Flowserve from $48.00 to $57.00 and gave the company a buy rating in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. StockNews.com lowered Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Finally, Robert W. Baird lifted their target price on Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $51.20.

Flowserve Stock Up 0.2 %

FLS opened at $47.25 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve has a 12 month low of $32.49 and a 12 month high of $49.35. The stock’s 50 day moving average price is $45.24 and its 200 day moving average price is $41.47. The stock has a market cap of $6.20 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.34 and a beta of 1.46.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.61% and a net margin of 5.29%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, research analysts predict that Flowserve will post 2.55 earnings per share for the current year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.78%. Flowserve’s dividend payout ratio is currently 47.46%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in Flowserve in the 4th quarter worth approximately $26,000. YHB Investment Advisors Inc. purchased a new stake in shares of Flowserve in the first quarter valued at $36,000. Raleigh Capital Management Inc. boosted its position in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the period. TFO Wealth Partners LLC grew its holdings in shares of Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,613 shares in the last quarter. Finally, CWM LLC raised its position in Flowserve by 153.0% during the third quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock valued at $79,000 after buying an additional 1,201 shares during the period. 93.93% of the stock is 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.