Flowserve (NYSE:FLS) Price Target Increased to $55.00 by Analysts at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price objective hoisted by Stifel Nicolaus from $53.00 to $55.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird upped their price objective on shares of Flowserve from $50.00 to $57.00 and gave the company a neutral rating in a report on Wednesday. Royal Bank of Canada increased their price target on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, February 22nd. Citigroup boosted their price objective on Flowserve from $50.00 to $56.00 and gave the company a buy rating in a report on Monday, April 8th. StockNews.com cut Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Finally, Bank of America boosted their price target on shares of Flowserve from $48.00 to $57.00 and gave the company a buy rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $51.20.

Flowserve Stock Performance

FLS stock opened at $47.25 on Wednesday. The firm has a market cap of $6.22 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $45.24 and a 200-day moving average price of $41.47. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts expect that Flowserve will post 2.57 earnings per share for the current year.

Flowserve Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in Flowserve during the fourth quarter worth $26,000. YHB Investment Advisors Inc. purchased a new stake in shares of Flowserve during the 1st quarter valued at $36,000. Raleigh Capital Management Inc. increased its position in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares during the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Flowserve by 14,663.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Flowserve by 153.0% in the 3rd quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after buying an additional 1,201 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.