EverSource Wealth Advisors LLC Buys 595 Shares of Flowserve Co. (NYSE:FLS)

EverSource Wealth Advisors LLC boosted its stake in Flowserve Co. (NYSE:FLS) by 185.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 915 shares of the industrial products company’s stock after purchasing an additional 595 shares during the period. EverSource Wealth Advisors LLC’s holdings in Flowserve were worth $53,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its stake in Flowserve by 0.6% in the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 215 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after acquiring an additional 225 shares during the last quarter. Savant Capital LLC raised its stake in shares of Flowserve by 0.4% during the fourth quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after acquiring an additional 251 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Flowserve by 4.1% during the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 252 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 277 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 2.8 %

NYSE:FLS opened at $51.36 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.35 and a beta of 1.43. The firm has a fifty day simple moving average of $57.85 and a two-hundred day simple moving average of $56.28. Flowserve Co. has a 12 month low of $43.66 and a 12 month high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FLS shares. Royal Bank of Canada dropped their price target on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. TD Cowen raised their price target on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Mizuho raised their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

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.