EverSource Wealth Advisors LLC Has $53,000 Stock Position in Flowserve Co. (NYSE:FLS)

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

A number of other hedge funds have also recently made changes to their positions in FLS. True Wealth Design LLC acquired a new position in shares of Flowserve during the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve during the third quarter valued at about $29,000. UMB Bank n.a. grew its holdings in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Flowserve during the third quarter valued at about $42,000. Finally, Brooklyn Investment Group bought a new position in shares of Flowserve during the third quarter valued at about $42,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of FLS stock opened at $51.36 on Thursday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 52 week low of $43.66 and a 52 week high of $65.08. The firm’s 50-day simple moving average is $57.85 and its two-hundred day simple moving average is $56.28.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FLS shares. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Monday. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research report 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 report on Thursday, January 16th. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.60.

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.