Wealth Enhancement Advisory Services LLC Purchases 8,292 Shares of Flowserve Corporation $FLS

Wealth Enhancement Advisory Services LLC raised its position in Flowserve Corporation (NYSE:FLS) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 665,526 shares of the industrial products company’s stock after purchasing an additional 8,292 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Flowserve were worth $34,614,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Flowserve by 4.8% during the second quarter. Janney Montgomery Scott LLC now owns 36,039 shares of the industrial products company’s stock valued at $1,887,000 after purchasing an additional 1,667 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Flowserve by 67.1% in the 3rd quarter. D.A. Davidson & CO. now owns 34,914 shares of the industrial products company’s stock valued at $1,855,000 after purchasing an additional 14,025 shares during the period. Paradice Investment Management LLC acquired a new position in Flowserve in the 3rd quarter valued at $17,970,000. Brian Low Financial Group LLC bought a new position in Flowserve during the 3rd quarter worth $1,007,000. Finally, Boston Partners bought a new stake in shares of Flowserve in the second quarter valued at about $223,561,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

NYSE:FLS opened at $76.71 on Wednesday. The company has a market capitalization of $9.75 billion, a PE ratio of 22.30, a P/E/G ratio of 1.38 and a beta of 1.29. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $77.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10. The company has a 50 day simple moving average of $71.17 and a two-hundred day simple moving average of $60.95.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $1.17 billion for 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 company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $0.21 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) is currently 24.42%.

Insider Activity at Flowserve

In related news, insider Lamar L. Duhon sold 1,609 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $69.51, for a total transaction of $111,841.59. Following the transaction, the insider directly owned 15,116 shares of the company’s stock, valued at approximately $1,050,713.16. This represents a 9.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy B. Schwetz sold 47,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the transaction, the chief financial officer owned 52,628 shares in the company, valued at approximately $3,737,640.56. The trade was a 47.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,276 shares of company stock valued at $4,196,578 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

FLS has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Stifel Nicolaus set a $84.00 target price on shares of Flowserve in a research note on Thursday, October 30th. Mizuho raised their price objective on Flowserve from $60.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Citigroup boosted their price objective on Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Jefferies Financial Group increased their target price on Flowserve from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.60.

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.