180 Wealth Advisors LLC Makes New $248,000 Investment in Flowserve Co. (NYSE:FLS)

180 Wealth Advisors LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,437 shares of the industrial products company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Flowserve in the 4th quarter valued at approximately $59,261,000. Hennessy Advisors Inc. bought a new position in shares of Flowserve during the 4th quarter valued at $22,321,000. AQR Capital Management LLC increased its stake in shares of Flowserve by 270.4% in the 3rd quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock worth $25,314,000 after purchasing an additional 464,667 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Flowserve by 717.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 394,975 shares of the industrial products company’s stock worth $16,281,000 after purchasing an additional 346,651 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Flowserve by 283.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 357,113 shares of the industrial products company’s stock worth $14,202,000 after purchasing an additional 263,957 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of analyst reports. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 12th. Stifel Nicolaus increased their price target on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Mizuho reiterated a “buy” rating and issued a $53.00 price target (up previously from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. Citigroup increased their price target on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, TD Cowen increased their price target on Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Flowserve Trading Up 0.5 %

NYSE:FLS opened at $48.10 on Friday. Flowserve Co. has a 12 month low of $35.31 and a 12 month high of $50.49. The firm has a fifty day simple moving average of $48.26 and a 200-day simple moving average of $44.59. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $6.33 billion, a P/E ratio of 27.18, a PEG ratio of 1.23 and a beta of 1.44.

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

Flowserve Dividend Announcement

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

Insider Activity at Flowserve

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

Flowserve 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.