Wealth Enhancement Advisory Services LLC Sells 4,235 Shares of Flowserve Corporation (NYSE:FLS)

Wealth Enhancement Advisory Services LLC decreased its position in shares of Flowserve Corporation (NYSE:FLS) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 639,859 shares of the industrial products company’s stock after selling 4,235 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.49% of Flowserve worth $31,251,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada raised their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus raised their target price on shares of Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Citigroup cut their target price on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. One 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $63.00.

Flowserve Price Performance

Shares of NYSE:FLS opened at $45.97 on Friday. The firm has a market cap of $6.01 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. The firm’s fifty day moving average is $47.25 and its 200-day moving average is $52.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. Flowserve’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve’s dividend payout ratio is presently 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.