Flowserve (NYSE:FLS) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Flowserve (NYSE:FLS) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $71.00 price objective on the industrial products company’s stock.

FLS has been the subject of several other research reports. Mizuho upped their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada reduced their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Up 2.8 %

FLS stock opened at $51.36 on Monday. The company has a fifty day moving average price of $57.85 and a 200 day moving average price of $56.28. Flowserve has a 12 month low of $43.66 and a 12 month high of $65.08. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Sell-side analysts expect that Flowserve will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in shares of Flowserve during the 3rd quarter worth about $25,000. Headlands Technologies LLC lifted its holdings in shares of Flowserve by 4,790.0% during the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 479 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the 3rd quarter worth about $29,000. Park Square Financial Group LLC acquired a new stake in Flowserve during the 4th quarter worth approximately $33,000. Finally, Colonial Trust Co SC increased its position in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 478 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.