Wealth Enhancement Advisory Services LLC Increases Stock Position in Flowserve Co. (NYSE:FLS)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,701 shares of the industrial products company's stock after acquiring an additional 10,403 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.47% of Flowserve worth $32,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FLS. Signaturefd LLC lifted its position in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Flowserve during the 3rd quarter valued at $27,000. nVerses Capital LLC purchased a new stake in Flowserve during the 2nd quarter valued at $34,000. Allworth Financial LP grew its holdings in Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after acquiring an additional 403 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 616 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America reiterated a "buy" rating and set a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Stifel Nicolaus boosted their target price on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Robert W. Baird raised their price target on Flowserve from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada raised their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $58.50.

Flowserve Stock Up 0.6 %

NYSE FLS traded up $0.29 during trading hours on Monday, reaching $52.95. 1,767,386 shares of the company's stock traded hands, compared to its average volume of 1,072,471. Flowserve Co. has a 52-week low of $35.80 and a 52-week high of $55.90. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. The firm has a 50-day simple moving average of $50.36 and a 200 day simple moving average of $48.85. The firm has a market cap of $6.97 billion, a PE ratio of 30.04, a PEG ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The business's revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. Flowserve's dividend payout ratio is currently 47.46%.

Flowserve Company Profile

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.