Flowserve Corp. (NYSE:FLS) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports.
Several other research analysts have also commented on the stock. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Flowserve Corp. in a report on Thursday, September 8th. Zacks Investment Research lowered shares of Flowserve Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 5th. Northcoast Research reaffirmed a “neutral” rating on shares of Flowserve Corp. in a report on Tuesday, August 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $54.00 price target on shares of Flowserve Corp. in a report on Tuesday, August 2nd. Finally, BMO Capital Markets decreased their price target on shares of Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of €61.97 ($68.09).
Flowserve Corp. (NYSE:FLS) opened at 42.21 on Monday. The stock has a 50 day moving average price of $45.67 and a 200 day moving average price of $47.04. The stock has a market capitalization of $5.48 billion, a PE ratio of 36.55 and a beta of 1.65. Flowserve Corp. has a 12 month low of $33.86 and a 12 month high of $52.50.
Flowserve Corp. (NYSE:FLS) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.10. Flowserve Corp. had a net margin of 3.60% and a return on equity of 17.93%. The business earned $943.33 million during the quarter, compared to analyst estimates of $974.29 million. During the same period last year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was down 14.0% on a year-over-year basis. On average, equities research analysts forecast that Flowserve Corp. will post $2.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.80%. Flowserve Corp.’s dividend payout ratio (DPR) is 66.09%.
In other Flowserve Corp. news, COO Thomas L. Pajonas sold 35,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of €45.49 ($49.99), for a total transaction of €1,592,150.00 ($1,749,615.38). Following the sale, the chief operating officer now directly owns 99,487 shares in the company, valued at approximately €4,525,663.63 ($4,973,256.74). The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William C. Rusnack sold 2,169 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of €46.72 ($51.34), for a total transaction of €101,335.68 ($111,357.89). Following the sale, the director now owns 2,783 shares in the company, valued at €130,021.76 ($142,881.05). The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FLS. Creative Planning increased its stake in Flowserve Corp. by 1.3% in the third quarter. Creative Planning now owns 2,767 shares of the company’s stock worth $133,000 after buying an additional 35 shares during the period. Seven Eight Capital LLC bought a new stake in Flowserve Corp. during the first quarter worth approximately $124,000. Advisor Group Inc. bought a new stake in Flowserve Corp. during the second quarter worth approximately $131,000. Pinkerton Retirement Specialists LLC bought a new stake in Flowserve Corp. during the second quarter worth approximately $142,000. Finally, Whittier Trust Co. increased its stake in Flowserve Corp. by 194.6% in the second quarter. Whittier Trust Co. now owns 3,865 shares of the company’s stock worth $175,000 after buying an additional 2,553 shares during the period. Institutional investors own 98.43% of the company’s stock.
Flowserve Corp. Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment.