Flowserve (NYSE:FLS) Downgraded by StockNews.com

StockNews.com lowered shares of Flowserve (NYSE:FLS) from a strong-buy rating to a buy rating in a report issued on Saturday.

FLS has been the subject of a number of other reports. Royal Bank of Canada lifted their price target on Flowserve from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, February 22nd. Robert W. Baird upped their price target on Flowserve from $46.00 to $50.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Mizuho lifted their price objective on shares of Flowserve from $48.00 to $50.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Citigroup increased their target price on shares of Flowserve from $50.00 to $56.00 and gave the stock a buy rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $51.00 to $53.00 and gave the company a buy rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $49.22.

Flowserve Price Performance

FLS opened at $47.17 on Friday. Flowserve has a twelve month low of $32.49 and a twelve month high of $49.35. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.33 and a beta of 1.46. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $45.14 and a 200 day simple moving average of $41.43.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. Flowserve’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Equities research analysts expect that Flowserve will post 2.55 EPS for the current fiscal year.

Flowserve Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from Flowserve’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Flowserve’s payout ratio is currently 59.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new stake in Flowserve in the fourth quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of Flowserve in the 1st quarter worth approximately $36,000. Raleigh Capital Management Inc. increased its stake in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 596 shares during the period. TFO Wealth Partners LLC raised its holdings in Flowserve by 14,663.6% during the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,613 shares in the last quarter. Finally, CWM LLC lifted its position in Flowserve by 153.0% in the third quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 1,201 shares during the period. 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.