Flowserve (NYSE:FLS) had its price objective cut by Stifel Nicolaus from $47.00 to $44.00 in a report released on Tuesday, February 20th, Marketbeat Ratings reports. They currently have a hold rating on the industrial products company’s stock.
Several other equities analysts have also recently commented on FLS. Zacks Investment Research cut shares of Flowserve from a hold rating to a sell rating in a research note on Monday, November 6th. BMO Capital Markets cut shares of Flowserve from an outperform rating to a market perform rating and cut their target price for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Royal Bank of Canada upgraded shares of Flowserve from an underperform rating to a sector perform rating in a research note on Tuesday, February 20th. Seaport Global Securities cut shares of Flowserve from a buy rating to a neutral rating and cut their target price for the company from $60.00 to $40.00 in a research note on Friday, November 3rd. Finally, Boenning Scattergood reiterated a hold rating on shares of Flowserve in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Flowserve has a consensus rating of Hold and a consensus price target of $43.67.
Shares of Flowserve (FLS) traded down $0.34 during trading on Tuesday, hitting $44.26. 622,099 shares of the stock were exchanged, compared to its average volume of 1,504,170. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 1.35. Flowserve has a twelve month low of $37.51 and a twelve month high of $51.92. The firm has a market capitalization of $5,790.00, a PE ratio of 49.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 84.44%.
Institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC increased its holdings in Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after buying an additional 126 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Flowserve in the 3rd quarter valued at $1,799,000. Permian Investment Partners LP bought a new stake in Flowserve in the 3rd quarter valued at $28,535,000. California Public Employees Retirement System increased its holdings in Flowserve by 5.4% in the 4th quarter. California Public Employees Retirement System now owns 290,435 shares of the industrial products company’s stock valued at $12,236,000 after buying an additional 14,798 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in Flowserve by 2.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 657,520 shares of the industrial products company’s stock valued at $28,004,000 after buying an additional 13,817 shares during the period.
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Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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