Ritholtz Wealth Management Makes New Investment in Flowserve Corporation (NYSE:FLS)

Ritholtz Wealth Management acquired a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,514 shares of the industrial products company's stock, valued at approximately $318,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC grew its position in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after buying an additional 479 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Flowserve during the fourth quarter worth about $33,000. Colonial Trust Co SC grew its position in shares of Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares in the last quarter. True Wealth Design LLC grew its position in shares of Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after buying an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after buying an additional 595 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLS shares. Citigroup lowered their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Royal Bank Of Canada upped their price target on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Mizuho set a $60.00 price target on Flowserve in a report on Friday, May 16th. Finally, Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $63.00.

Flowserve Stock Performance

Shares of FLS stock traded down $0.47 during trading hours on Friday, hitting $45.97. The stock had a trading volume of 3,321,454 shares, compared to its average volume of 2,487,890. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.61, a PEG ratio of 1.06 and a beta of 1.26. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The stock's 50 day moving average is $47.25 and its 200 day moving average is $52.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.07 and a quick ratio of 1.46.

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, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The company's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, research analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, June 27th. Flowserve's payout ratio is currently 39.25%.

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.