Flowserve Co. (NYSE:FLS) Receives $67.50 Average PT from Analysts

Flowserve Co. (NYSE:FLS) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $67.50.

FLS has been the topic of several research analyst reports. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho lifted their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $57.00 to $69.00 in a research note on Friday, November 22nd.

Flowserve Stock Performance

Shares of NYSE FLS opened at $63.60 on Thursday. Flowserve has a 12 month low of $40.78 and a 12 month high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.36 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.29 and a beta of 1.42. The business’s 50 day moving average is $60.64 and its two-hundred day moving average is $55.12.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s dividend payout ratio is currently 41.58%.

Institutional Investors Weigh In On Flowserve

A number of hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Flowserve during the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in Flowserve during the 3rd quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the 3rd quarter valued at $29,000. Finally, Allworth Financial LP increased its stake in shares of Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the period. Institutional investors own 93.93% of the company’s stock.

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.