Flowserve Co. (NYSE:FLS) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 623,001 shares of the industrial products company’s stock after purchasing an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.47% of Flowserve worth $35,835,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in Flowserve during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in Flowserve during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the 3rd quarter valued at $29,000. Finally, Allworth Financial LP boosted its stake in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 403 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FLS. Jefferies Financial Group began coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price objective on the stock. Mizuho raised their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Citigroup raised their price target on shares of Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.40.

Flowserve Trading Down 1.2 %

Shares of NYSE:FLS opened at $58.33 on Friday. The company has a market cap of $7.66 billion, a PE ratio of 28.88, a P/E/G ratio of 1.48 and a beta of 1.42. The company’s 50-day moving average price is $59.38 and its 200 day moving average price is $52.93. Flowserve Co. has a fifty-two week low of $39.37 and a fifty-two week high of $62.32. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. Sell-side analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.44%. Flowserve’s payout ratio is 41.58%.

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.