Flowserve Co. (NYSE:FLS) Shares Bought by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,744 shares of the industrial products company’s stock after buying an additional 1,051 shares during the quarter. Insight Wealth Strategies LLC owned 0.05% of Flowserve worth $3,897,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. True Wealth Design LLC acquired a new stake in Flowserve during the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Flowserve during the third quarter worth approximately $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Flowserve in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in Flowserve in the 3rd quarter valued at approximately $29,000. Finally, Allworth Financial LP grew its holdings in Flowserve by 159.9% during the third 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 period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Trading Up 1.0 %

FLS stock traded up $0.56 during midday trading on Monday, reaching $59.01. 888,347 shares of the company’s stock traded hands, compared to its average volume of 802,268. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a fifty-two week low of $39.21 and a fifty-two week high of $62.32. The business has a 50-day moving average price of $58.92 and a two-hundred day moving average price of $52.66. The company has a market capitalization of $7.75 billion, a P/E ratio of 29.21, a PEG ratio of 1.48 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. Equities research analysts forecast that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, December 27th. Flowserve’s dividend payout ratio is currently 41.58%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. 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. Stifel Nicolaus increased their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their target price on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.40.

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.