Flowserve Corporation (NYSE:FLS) Given Average Recommendation of “Buy” by Brokerages

Shares of Flowserve Corporation (NYSE:FLS) have earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $65.7778.

FLS has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada upped their price objective on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Citigroup upped their price objective on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus upped their price objective on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 31st.

Flowserve Stock Down 0.6%

Shares of NYSE FLS opened at $56.43 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.16 and a beta of 1.29. Flowserve has a 12 month low of $37.34 and a 12 month high of $65.08. The stock has a 50-day moving average price of $54.49 and a two-hundred day moving average price of $50.34.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve’s dividend payout ratio is currently 38.01%.

Insiders Place Their Bets

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Flowserve

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in Flowserve during the 2nd quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new position in shares of Flowserve during the 2nd quarter worth approximately $26,000. Park Square Financial Group LLC bought a new position in shares of Flowserve during the 4th quarter worth approximately $33,000. Hilltop National Bank bought a new position in shares of Flowserve during the 2nd quarter worth approximately $31,000. Finally, IFP Advisors Inc boosted its holdings in shares of Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after buying an additional 619 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.