Ibex Wealth Advisors Has $736,000 Stake in Flowserve Co. (NYSE:FLS)

Ibex Wealth Advisors reduced its stake in shares of Flowserve Co. (NYSE:FLS) by 36.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,803 shares of the industrial products company’s stock after selling 7,318 shares during the period. Ibex Wealth Advisors’ holdings in Flowserve were worth $736,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC bought a new stake in Flowserve during the third quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve in the 3rd quarter worth $29,000. Finally, Allworth Financial LP raised its holdings 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 valued at $34,000 after purchasing an additional 403 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.5 %

FLS stock opened at $61.45 on Thursday. The stock has a fifty day moving average of $60.33 and a 200-day moving average of $54.38. Flowserve Co. has a fifty-two week low of $39.69 and a fifty-two week high of $65.08. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.31 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, equities research analysts predict that Flowserve Co. will post 2.7 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.37%. Flowserve’s payout ratio is 41.58%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLS. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Mizuho raised their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.50.

About Flowserve

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.