Flowserve Corporation (NYSE:FLS) Receives Consensus Recommendation of “Buy” from Analysts

Flowserve Corporation (NYSE:FLS) has received an average recommendation of “Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $65.8750.

A number of analysts recently issued reports on FLS shares. The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Citigroup increased their price objective on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada raised their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st.

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLS. TD Private Client Wealth LLC bought a new stake in Flowserve during the second quarter worth approximately $25,000. First Horizon Advisors Inc. bought a new stake in shares of Flowserve during the 2nd quarter worth $26,000. Hilltop National Bank acquired a new position in Flowserve in the 2nd quarter valued at $31,000. IFP Advisors Inc raised its holdings in Flowserve by 1,289.6% in the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 619 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 418 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Shares of FLS opened at $50.56 on Tuesday. The company has a market capitalization of $6.61 billion, a PE ratio of 22.88, a PEG ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The company’s 50 day moving average price is $53.70 and its 200 day moving average price is $50.64. Flowserve has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.22 billion. Research analysts expect that Flowserve will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve’s payout ratio is presently 38.01%.

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.