180 Wealth Advisors LLC Acquires 565 Shares of Flowserve Co. (NYSE:FLS)

180 Wealth Advisors LLC grew its stake in shares of Flowserve Co. (NYSE:FLS) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,255 shares of the industrial products company’s stock after buying an additional 565 shares during the period. 180 Wealth Advisors LLC’s holdings in Flowserve were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FLS. State Street Corp grew its stake in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after acquiring an additional 37,132 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the last quarter. Earnest Partners LLC grew its position in shares of Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after purchasing an additional 121,873 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after buying an additional 44,039 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price target for the company. Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday. Mizuho upped their price target 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. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $64.30.

Flowserve Trading Up 0.7 %

Shares of FLS opened at $59.60 on Wednesday. The company’s fifty day simple moving average is $59.67 and its 200-day simple moving average is $53.23. The company has a market cap of $7.83 billion, a P/E ratio of 29.51, a P/E/G ratio of 1.46 and a beta of 1.41. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve Co. has a twelve month low of $39.37 and a twelve month high of $62.32.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.50 earnings per share. As a group, analysts expect that Flowserve Co. will post 2.71 EPS for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.41%. 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.