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

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

Other research analysts have also issued research reports about the stock. Robert W. Baird lifted their price objective on shares of Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on shares of Flowserve from $53.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday. Mizuho reissued a buy rating and issued a $53.00 price target (up previously from $50.00) on shares of Flowserve in a report on Wednesday. Royal Bank of Canada boosted their target price on Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. Finally, StockNews.com lowered Flowserve from a strong-buy rating to a buy rating in a research report on Saturday, April 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $51.55.

Flowserve Stock Performance

FLS stock opened at $47.52 on Wednesday. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.26 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.24 and a beta of 1.42. The business’s fifty day moving average is $45.45 and its 200-day moving average is $41.57.

Flowserve (NYSE:FLS) last released its quarterly earnings data 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. 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 the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Equities research analysts forecast that Flowserve will post 2.62 EPS for the current year.

Flowserve Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Hedge Funds Weigh In On Flowserve

A number of large investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in shares of Flowserve in the fourth quarter worth $26,000. YHB Investment Advisors Inc. bought a new position in Flowserve in the first quarter valued at $36,000. Raleigh Capital Management Inc. increased its stake in Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after buying an additional 596 shares during the last quarter. TFO Wealth Partners LLC lifted its position in Flowserve by 14,663.6% during 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 in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Flowserve during the 1st quarter worth about $87,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.