Affinity Wealth Management LLC Makes New $202,000 Investment in Flowserve Co. (NYSE:FLS)

Affinity Wealth Management LLC purchased a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,509 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in Flowserve during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in Flowserve in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve during the 3rd quarter valued at $29,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve in the third quarter worth $29,000. Finally, Allworth Financial LP raised its position in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Stifel Nicolaus lifted their target price on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Flowserve Stock Performance

Shares of FLS stock opened at $64.06 on Friday. The stock has a 50 day moving average price of $60.27 and a two-hundred day moving average price of $54.11. Flowserve Co. has a fifty-two week low of $39.69 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The company has a market capitalization of $8.42 billion, a P/E ratio of 31.71, a PEG ratio of 1.31 and a beta of 1.42.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Analysts expect that Flowserve Co. will post 2.7 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

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.