Flowserve (NYSE:FLS) Sees Strong Trading Volume – Time to Buy?

Flowserve Co. (NYSE:FLS) shares saw an uptick in trading volume on Monday . 2,817,652 shares changed hands during trading, an increase of 132% from the previous session’s volume of 1,214,812 shares.The stock last traded at $38.25 and had previously closed at $43.60.

Analysts Set New Price Targets

Several analysts recently commented on FLS shares. Royal Bank of Canada dropped their price target on 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 upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the company from $55.00 to $69.00 in a report on Thursday, December 12th. TD Cowen lifted their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Up 12.8 %

The company has a market capitalization of $5.87 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.35 and a beta of 1.22. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $52.74 and its 200 day moving average price is $56.20.

Flowserve (NYSE:FLS) last issued 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 return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.89%. Flowserve’s dividend payout ratio is currently 39.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC grew its position in Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Flowserve by 0.6% in the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock worth $2,193,000 after buying an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. raised its holdings in Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after buying an additional 236 shares during the last quarter. Savant Capital LLC boosted its position in Flowserve by 0.4% during the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after buying an additional 251 shares during the period. Finally, National Bank of Canada FI grew its holdings in Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.