Stifel Nicolaus Increases Flowserve (NYSE:FLS) Price Target to $53.00

Flowserve (NYSE:FLS) had its price objective boosted by Stifel Nicolaus from $51.00 to $53.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

FLS has been the topic of a number of other research reports. Citigroup boosted their price objective on Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada boosted their price objective on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. StockNews.com raised Flowserve from a buy rating to a strong-buy rating in a research note on Thursday, February 22nd. Robert W. Baird boosted their price objective on Flowserve from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Finally, Mizuho lifted their target price on Flowserve from $48.00 to $50.00 and gave the company a buy rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $48.25.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $45.81 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The business’s 50 day moving average price is $44.52 and its 200-day moving average price is $40.98. The firm has a market capitalization of $6.01 billion, a PE ratio of 32.49, a P/E/G ratio of 1.30 and a beta of 1.46. Flowserve has a 1 year low of $32.05 and a 1 year high of $48.31.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, equities research analysts expect that Flowserve will post 2.54 earnings per share for the current fiscal year.

Flowserve Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.21 per share. This is an increase from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a yield of 1.83%. Flowserve’s dividend payout ratio is 59.57%.

Institutional Investors Weigh In On Flowserve

Several large investors have recently bought and sold shares of the stock. Moody National Bank Trust Division increased its holdings in Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 259 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Flowserve by 1.8% during the 3rd quarter. Integrated Investment Consultants LLC now owns 14,611 shares of the industrial products company’s stock worth $581,000 after acquiring an additional 262 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Flowserve by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,444 shares of the industrial products company’s stock worth $2,285,000 after acquiring an additional 290 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 291 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Flowserve by 17.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 303 shares in 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.