WELL splitting hairs here, you can bolt up a 125# flange to a 150# flange, and 250# to a 300#. But as everyone so far has indicated, in general NO you can't. BUT pressing farther, there are times when you have a piece of equipment that has say a 300# flange, but a 150# piping system needs to "bolt-up" to it. This is done by breaking the piping spec. at that point with the 300# flange, then from that point on go with the 150# piping spec you want to use. All you need to do now is note the spec. break on the drawings involved.