Flowserve (NYSE:FLS) Sets New 1-Year Low – Here’s Why

Flowserve Co. (NYSE:FLS)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $43.41 and last traded at $43.54, with a volume of 1476055 shares. The stock had previously closed at $49.86.

Analysts Set New Price Targets

FLS has been the subject of a number of research analyst reports. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Monday, March 17th. Mizuho boosted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Royal Bank of Canada dropped their price objective on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Citigroup decreased their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Performance

The stock has a market cap of $5.74 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company’s 50 day moving average price is $55.23 and its 200-day moving average price is $56.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its holdings in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the third quarter worth about $29,000. Park Square Financial Group LLC purchased a new position in shares of Flowserve in the fourth quarter worth about $33,000. Colonial Trust Co SC lifted its stake in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 278 shares during the period. 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.