Wealth Enhancement Advisory Services LLC Buys 21,393 Shares of Flowserve Co. (NYSE:FLS)

Wealth Enhancement Advisory Services LLC boosted its position in Flowserve Co. (NYSE:FLS - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 644,094 shares of the industrial products company's stock after acquiring an additional 21,393 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.49% of Flowserve worth $37,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLS. Headlands Technologies LLC raised its stake in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares during the period. Park Square Financial Group LLC purchased a new position in Flowserve during the 4th quarter valued at about $33,000. Colonial Trust Co SC grew its holdings in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares in the last quarter. True Wealth Design LLC grew its holdings in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after buying an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after buying an additional 595 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Shares of FLS stock traded up $1.16 during trading on Tuesday, hitting $50.58. The company had a trading volume of 1,320,672 shares, compared to its average volume of 1,301,819. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The stock's 50-day moving average is $46.43 and its two-hundred day moving average is $54.11. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Flowserve's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, June 27th. Flowserve's dividend payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Stifel Nicolaus lifted their target price on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Robert W. Baird reduced their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup reduced their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada lifted their target price on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $63.00.

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.