Ibex Wealth Advisors reduced its position in Flowserve Co. (NYSE:FLS - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,803 shares of the industrial products company's stock after selling 7,318 shares during the period. Ibex Wealth Advisors' holdings in Flowserve were worth $736,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FLS. True Wealth Design LLC bought a new position in Flowserve during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter valued at $29,000. Finally, Allworth Financial LP boosted its holdings in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after purchasing an additional 403 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Flowserve Stock Performance
Shares of NYSE FLS traded up $1.66 during mid-day trading on Thursday, hitting $63.09. The company had a trading volume of 533,316 shares, compared to its average volume of 1,244,418. Flowserve Co. has a 12 month low of $39.69 and a 12 month high of $65.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a market cap of $8.29 billion, a P/E ratio of 31.24, a PEG ratio of 1.31 and a beta of 1.42. The business's 50-day simple moving average is $60.33 and its 200-day simple moving average is $54.38.
Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion for 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 business's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, analysts predict that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.
Flowserve Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve's dividend payout ratio is 41.58%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on FLS shares. Bank of America boosted their price target on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their target price on Flowserve from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and lifted their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Citigroup dropped their target price on shares of Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Flowserve currently has an average rating of "Moderate Buy" and a consensus price target of $67.50.
View Our Latest Stock Analysis on FLS
About Flowserve
(
Free Report)
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.
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