180 Wealth Advisors LLC Buys New Position in Flowserve Corporation $FLS

180 Wealth Advisors LLC bought a new stake in Flowserve Corporation (NYSE:FLS) during the third quarter, Holdings Channel.com reports. The fund bought 13,629 shares of the industrial products company’s stock, valued at approximately $724,000.

Several other institutional investors also recently added to or reduced their stakes in FLS. KPP Advisory Services LLC boosted its position in shares of Flowserve by 2.3% in the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 222 shares during the period. MJP Associates Inc. ADV raised its stake in Flowserve by 6.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 4,580 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Flowserve by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,663 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 271 shares during the period. Moody National Bank Trust Division grew its position in Flowserve by 4.2% in the 3rd quarter. Moody National Bank Trust Division now owns 8,425 shares of the industrial products company’s stock worth $448,000 after purchasing an additional 337 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Flowserve by 74.5% in the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 344 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Amy B. Schwetz sold 47,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the sale, the chief financial officer owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This trade represents a 47.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Susan Claire Hudson sold 10,667 shares of Flowserve stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total transaction of $746,796.67. Following the completion of the transaction, the insider owned 6,589 shares of the company’s stock, valued at $461,295.89. This trade represents a 61.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 59,276 shares of company stock worth $4,196,578 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLS. The Goldman Sachs Group upped their price objective on shares of Flowserve from $71.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Royal Bank Of Canada boosted their price target on Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Cowen raised their price objective on Flowserve from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Cowen reissued a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Finally, Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.20.

Flowserve Trading Down 0.4%

Shares of 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 cap of $9.03 billion, a PE ratio of 20.65, a PEG 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 stock has a 50 day simple moving average of $67.51 and a 200-day simple moving average of $58.14.

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

Flowserve Announces Dividend

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

Flowserve Profile

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.