Atria Wealth Solutions Inc. Decreases Stake in Flowserve Co. (NYSE:FLS)

Atria Wealth Solutions Inc. lessened its stake in shares of Flowserve Co. (NYSE:FLS) by 8.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,825 shares of the industrial products company’s stock after selling 516 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Flowserve were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Flowserve during the third quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve during the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the 3rd quarter valued at about $29,000. Allworth Financial LP increased 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 period. Finally, UMB Bank n.a. raised its stake in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their target price for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Citigroup reduced their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. Mizuho boosted their target price on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus increased their price target on Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Stock Up 1.2 %

FLS opened at $55.03 on Friday. The company has a fifty day moving average of $60.22 and a two-hundred day moving average of $56.05. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.35 and a beta of 1.42. Flowserve Co. has a fifty-two week low of $41.78 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, March 28th. Flowserve’s payout ratio is 39.25%.

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.