Flowserve Co. (NYSE:FLS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Flowserve Co. (NYSE:FLS) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $67.50.

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target 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 set a “buy” rating and a $65.00 target price on the stock. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $57.00 to $69.00 in a research note on Friday, November 22nd.

Institutional Trading of Flowserve

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Flowserve during the 4th quarter worth $94,629,000. Point72 Asset Management L.P. increased its position in Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after acquiring an additional 606,416 shares during the period. Varenne Capital Partners acquired a new stake in Flowserve in the 4th quarter worth about $26,216,000. Massachusetts Financial Services Co. MA boosted its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after purchasing an additional 422,141 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in Flowserve in the 4th quarter valued at about $23,614,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

NYSE:FLS opened at $61.93 on Thursday. Flowserve has a 52-week low of $40.78 and a 52-week high of $65.08. The company has a market cap of $8.14 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock’s 50-day simple moving average is $60.67 and its 200 day simple moving average is $55.25.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

Flowserve Company Profile

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.