180 Wealth Advisors LLC Buys Shares of 13,629 Flowserve Corporation $FLS

180 Wealth Advisors LLC bought a new stake in Flowserve Corporation (NYSE:FLS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,629 shares of the industrial products company’s stock, valued at approximately $724,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Boston Partners purchased a new stake in Flowserve in the 2nd quarter worth about $223,561,000. Norges Bank acquired a new position in shares of Flowserve in the 2nd quarter valued at about $88,247,000. Third Point LLC acquired a new position in shares of Flowserve in the 2nd quarter valued at about $62,558,000. Merewether Investment Management LP purchased a new stake in shares of Flowserve in the second quarter worth approximately $46,555,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Flowserve by 78.8% during the second quarter. Fisher Asset Management LLC now owns 1,858,621 shares of the industrial products company’s stock worth $97,299,000 after purchasing an additional 819,206 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their target price on shares of Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Jefferies Financial Group boosted their price target on shares of Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. The Goldman Sachs Group increased their price objective on Flowserve from $71.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Cowen reissued a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Finally, UBS Group upped their target price on Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Buying and Selling at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of Flowserve stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the transaction, the chief financial officer owned 52,628 shares of the company’s stock, valued at $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the sale, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. This represents a 61.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,276 shares of company stock worth $4,196,578 over the last 90 days. Insiders own 0.72% of the company’s stock.

Flowserve Trading Down 0.4%

Shares of NYSE:FLS opened at $71.03 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $9.03 billion, a PE ratio of 20.65, a P/E/G ratio of 1.43 and a beta of 1.30. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $74.63. The firm has a fifty day moving average price of $67.51 and a 200 day moving average price of $58.14.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.2%. Flowserve’s dividend payout ratio is presently 24.42%.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.