Wealth Enhancement Advisory Services LLC Has $32.19 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Wealth Enhancement Advisory Services LLC raised its stake in Flowserve Co. (NYSE:FLS) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.47% of Flowserve worth $32,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLS. RBA Wealth Management LLC acquired a new position in shares of Flowserve during the 1st quarter worth $3,112,000. Susquehanna Fundamental Investments LLC bought a new stake in Flowserve during the 1st quarter worth $3,808,000. National Bank of Canada FI grew its position in Flowserve by 541.1% during the 1st quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock worth $20,616,000 after acquiring an additional 350,889 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Flowserve during the 1st quarter worth $874,000. Finally, Quantbot Technologies LP grew its position in Flowserve by 55.1% during the 1st quarter. Quantbot Technologies LP now owns 55,764 shares of the industrial products company’s stock worth $2,547,000 after acquiring an additional 19,804 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FLS shares. Robert W. Baird upped their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. The Goldman Sachs Group upped their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada upped their price target on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Flowserve Stock Performance

Shares of Flowserve stock opened at $52.66 on Monday. The company has a market cap of $6.93 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Flowserve Co. has a 52 week low of $35.52 and a 52 week high of $55.90. The business has a 50 day moving average price of $50.36 and a 200-day moving average price of $48.85. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.

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

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Flowserve 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.