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

Insight Wealth Strategies LLC raised its stake in Flowserve Co. (NYSE:FLS) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 67,744 shares of the industrial products company’s stock after acquiring an additional 1,051 shares during the period. Insight Wealth Strategies LLC’s holdings in Flowserve were worth $3,897,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FLS. True Wealth Design LLC bought a new stake in shares of Flowserve in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the third quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at about $29,000. Finally, Allworth Financial LP grew its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FLS shares. Jefferies Financial Group assumed coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Robert W. Baird raised their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America upped their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $64.40.

Flowserve Trading Up 1.0 %

Shares of Flowserve stock traded up $0.56 on Monday, reaching $59.01. 888,347 shares of the company were exchanged, compared to its average volume of 802,268. 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 fifty-two week low of $39.21 and a fifty-two week high of $62.32. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The stock has a fifty day moving average price of $58.92 and a 200-day moving average price of $52.66.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.42%. Flowserve’s dividend payout ratio (DPR) is presently 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.