180 Wealth Advisors LLC Purchases New Stake in Flowserve Co. (NYSE:FLS)

180 Wealth Advisors LLC purchased a new stake in Flowserve Co. (NYSE:FLS) during the first quarter, HoldingsChannel reports. The firm purchased 5,437 shares of the industrial products company’s stock, valued at approximately $248,000.

A number of other large investors have also added to or reduced their stakes in FLS. Peregrine Capital Management LLC bought a new position in Flowserve during the 4th quarter worth $6,031,000. Eaton Financial Holdings Company LLC bought a new position in Flowserve during the 4th quarter worth $2,169,000. Wakefield Asset Management LLLP bought a new position in Flowserve during the 4th quarter worth $866,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Flowserve during the 4th quarter worth $5,970,000. Finally, Beck Bode LLC bought a new position in Flowserve during the 4th quarter worth $3,404,000. Institutional investors own 93.93% of the company’s stock.

Insider Activity

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Flowserve Stock Performance

NYSE:FLS opened at $48.10 on Friday. The stock’s 50-day simple moving average is $48.26 and its 200 day simple moving average is $44.59. The firm has a market capitalization of $6.33 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.44. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $50.49.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts anticipate that Flowserve Co. will post 2.66 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, June 28th. Flowserve’s payout ratio is 47.46%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLS. Robert W. Baird increased their price objective on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen increased their target price on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Mizuho reissued a “buy” rating and set a $53.00 target price (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 12th. Finally, Citigroup increased their target price on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

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.