Flowserve Co. (NYSE:FLS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Flowserve Co. (NYSE:FLS) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $67.50.

FLS has been the topic of several recent analyst reports. TD Cowen raised their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup reduced their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Bank of America boosted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $57.00 to $69.00 in a research note on Friday, November 22nd.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Flowserve by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company’s stock worth $775,209,000 after acquiring an additional 101,668 shares during the period. State Street Corp increased its holdings in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after buying an additional 44,039 shares during the period. Geode Capital Management LLC lifted its stake in Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after buying an additional 23,529 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Flowserve by 10.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,832,204 shares of the industrial products company’s stock worth $105,388,000 after acquiring an additional 167,379 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS opened at $61.93 on Thursday. The firm has a market cap of $8.14 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The business’s fifty day moving average is $60.67 and its 200-day moving average is $55.25. Flowserve has a 52-week low of $40.78 and a 52-week high of $65.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is currently 41.58%.

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.