Flowserve Corp (NYSE:FLS) Receives $49.82 Average Target Price from Brokerages
Shares of Flowserve Corp (NYSE:FLS) have been assigned a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $50.33.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Citigroup set a $12.00 price objective on shares of Avaya and gave the stock a “hold” rating in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a report on Wednesday.
FLS traded up $1.07 during mid-day trading on Friday, reaching $52.72. 25,236 shares of the stock were exchanged, compared to its average volume of 737,984. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.17 and a quick ratio of 1.57. The stock has a market capitalization of $6.74 billion, a PE ratio of 30.05, a PEG ratio of 1.50 and a beta of 1.62. The business has a 50 day moving average of $50.04. Flowserve has a 1 year low of $35.88 and a 1 year high of $56.86.
The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, June 20th. Flowserve’s dividend payout ratio (DPR) is currently 43.43%.
In related news, insider John Lenander sold 5,761 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now directly owns 16,568 shares of the company’s stock, valued at approximately $817,133.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of FLS. Valeo Financial Advisors LLC lifted its holdings in Flowserve by 1,211.5% during the second quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 630 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in Flowserve by 91.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 520 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Flowserve during the fourth quarter valued at about $128,000. Bluestein R H & Co. purchased a new stake in Flowserve during the first quarter valued at about $203,000. Finally, Cubic Asset Management LLC purchased a new stake in Flowserve during the first quarter valued at about $207,000. 98.52% of the stock is currently owned by institutional investors.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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