Flowserve (NYSE:FLS) Receives “Buy” Rating from Mizuho

Mizuho reaffirmed their buy rating on shares of Flowserve (NYSE:FLS) in a research note released on Wednesday, Benzinga reports. Mizuho currently has a $53.00 price objective on the industrial products company’s stock, up from their previous price objective of $50.00.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird increased their target price on Flowserve from $50.00 to $57.00 and gave the stock a neutral rating in a report on Wednesday. Citigroup lifted their target price 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 upped their price objective on Flowserve from $43.00 to $46.00 and gave the company a sector perform rating in a research note on Thursday, February 22nd. StockNews.com lowered shares of Flowserve from a strong-buy rating to a buy rating in a report on Saturday, April 27th. Finally, 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 research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $51.20.

Flowserve Stock Performance

NYSE FLS opened at $47.25 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.27 and a current ratio of 1.88. The stock has a market cap of $6.22 billion, a PE ratio of 26.70, a PEG ratio of 1.33 and a beta of 1.42. Flowserve has a fifty-two week low of $32.49 and a fifty-two week high of $49.35. The firm’s fifty day moving average price is $45.24 and its two-hundred day moving average price is $41.47.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts expect that Flowserve will post 2.57 EPS for the current fiscal year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. Flowserve’s payout ratio is currently 47.46%.

Institutional Trading of Flowserve

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its holdings in shares of Flowserve by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,471 shares of the industrial products company’s stock valued at $1,438,000 after buying an additional 2,013 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Flowserve by 20.9% in the first quarter. BNP Paribas Financial Markets now owns 79,494 shares of the industrial products company’s stock valued at $3,631,000 after acquiring an additional 13,738 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Flowserve by 0.3% in the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after acquiring an additional 433 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Flowserve by 2.6% in the first quarter. Principal Financial Group Inc. now owns 493,996 shares of the industrial products company’s stock worth $22,566,000 after purchasing an additional 12,301 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Flowserve during the first quarter worth $36,000. 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.