180 Wealth Advisors LLC Boosts Holdings in Flowserve Co. (NYSE:FLS)

180 Wealth Advisors LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,255 shares of the industrial products company’s stock after purchasing an additional 565 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Flowserve were worth $705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC increased its position in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Flowserve by 31.8% during the second 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 in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Flowserve by 197.6% during the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after buying an additional 606,416 shares during the last quarter. Hood River Capital Management LLC purchased a new position in Flowserve in the 2nd quarter worth about $23,911,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Flowserve by 34.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after acquiring an additional 422,141 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLS. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Robert W. Baird lifted their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.30.

Flowserve Stock Up 0.7 %

NYSE FLS opened at $59.60 on Wednesday. The stock’s 50-day moving average price is $59.67 and its 200-day moving average price is $53.23. The company has a market capitalization of $7.83 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 52 week low of $39.37 and a 52 week high of $62.32.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, equities research analysts predict that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.21 dividend. 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 presently 41.58%.

Flowserve Company 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.