Flowserve (NYSE:FLS) Price Target Raised to $58.00 at Stifel Nicolaus

Flowserve (NYSE:FLS) had its price target boosted by Stifel Nicolaus from $55.00 to $58.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the stock. Citigroup upped their target price on shares of Flowserve from $56.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, May 1st. UBS Group upped their target price on shares of Flowserve from $46.00 to $54.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Bank of America upped their target price on shares of Flowserve from $48.00 to $57.00 and gave the stock a buy rating in a report on Tuesday, April 30th. StockNews.com raised shares of Flowserve from a buy rating to a strong-buy rating in a report on Wednesday, June 12th. Finally, TD Cowen upped their target price on shares of Flowserve from $50.00 to $55.00 and gave the stock a buy rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $51.82.

Flowserve Stock Performance

NYSE FLS opened at $49.67 on Thursday. The company’s 50 day moving average is $48.49 and its 200-day moving average is $45.47. Flowserve has a 12-month low of $35.31 and a 12-month high of $52.06. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. The firm has a market cap of $6.54 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Sell-side analysts predict that Flowserve will post 2.66 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.21 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. Flowserve’s dividend payout ratio is presently 47.46%.

Insider Activity

In other news, CEO Robert Scott Rowe sold 42,269 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the sale, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. purchased a new stake in shares of Flowserve in the 4th quarter valued at $26,000. YHB Investment Advisors Inc. purchased a new stake in shares of Flowserve in the 1st quarter valued at $36,000. Raleigh Capital Management Inc. raised its holdings in Flowserve by 122.4% during 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. GAMMA Investing LLC raised its holdings in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its holdings 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 valued at $67,000 after buying an additional 1,613 shares during the last quarter. Hedge funds and other 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.