Flowserve (NYSE:FLS) Given New $70.00 Price Target at Mizuho

Flowserve (NYSE:FLS) had its price target hoisted by Mizuho from $65.00 to $70.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

FLS has been the subject of several other reports. Citigroup lowered their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada lowered their price target on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. TD Cowen lifted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America increased their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.60.

Flowserve Stock Performance

Flowserve stock opened at $57.47 on Thursday. Flowserve has a 52 week low of $41.60 and a 52 week high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $7.55 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. The stock has a 50 day moving average of $60.68 and a 200-day moving average of $55.70.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.11%. On average, analysts expect that Flowserve will post 3.21 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.46%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $25,000. Headlands Technologies LLC boosted its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after buying an additional 479 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Flowserve during the third quarter worth about $29,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve during the third quarter worth about $29,000. Finally, Allworth Financial LP raised its position in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.