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

Wealth Enhancement Advisory Services LLC raised its stake in shares of Flowserve Co. (NYSE:FLS) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 623,001 shares of the industrial products company’s stock after buying an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Flowserve were worth $35,835,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its stake in shares of Flowserve by 5.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 10,466 shares of the industrial products company’s stock worth $503,000 after purchasing an additional 578 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Flowserve by 220.5% in the 2nd quarter. Victory Capital Management Inc. now owns 126,095 shares of the industrial products company’s stock worth $6,065,000 after purchasing an additional 86,751 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Flowserve by 40.1% in the 2nd quarter. Wedbush Securities Inc. now owns 7,539 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 2,156 shares during the last quarter. AGF Management Ltd. grew its stake in shares of Flowserve by 311.4% in the 2nd quarter. AGF Management Ltd. now owns 47,230 shares of the industrial products company’s stock worth $2,272,000 after purchasing an additional 35,749 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Flowserve by 58.3% in the 2nd quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock worth $1,962,000 after purchasing an additional 15,029 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock opened at $58.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market cap of $7.66 billion, a P/E ratio of 28.88, a P/E/G ratio of 1.48 and a beta of 1.42. The firm has a 50 day simple moving average of $59.38 and a 200 day simple moving average of $52.93. Flowserve Co. has a 52 week low of $39.37 and a 52 week high of $62.32.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’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 posted $0.50 earnings per share. Research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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

Analyst Upgrades and Downgrades

FLS has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Citigroup lifted their price objective on shares of Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Mizuho lifted their target price 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. Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $64.40.

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.