While lots of polls show that many middle-class and lower-class Americans believe the recession has not ended financially, the number of millionaires in the U.S. climbed close to record levels in 2013, reaching a count of 9.63 million. The top 1% of Americans based on income have done well, according to most media accounts. There is evidence that the top tier of that group has done even better.
According to a report by Spectrem Group:
The Recession reduced the number of millionaires in the United States to 6.7 million in 2008, though its population has grown ever since. Its previous high was 9.2 million in 2007, before the Recession started.
The figure does not include the value of primary residences.
George H. Walper Jr., president of Spectrem Group, added:
Most of the financial damage done by the Recession has been erased by recent record-high markets in 2013 as well as continued rebound in the real estate markets. In terms of the affluent investor, it is fair to say they have finally recovered from the economic downturn.
Best Consumer Stocks To Own Right Now: Flowserve Corp (FLS)
Flowserve Corporation, incorporated on May 1, 1912, is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufacture precision-engineered flows control equipment integral to the movement, control and protection of the flow of materials in its customers' critical processes. The Company operates in three segments: Engineered Product Division (EPD), which includes long leads time, custom and other engineered pumps and pump systems, mechanical seals, auxiliary systems and replacement parts and related services, Industrial Product Division (IPD), which includes pre-configured engineered pumps and pump systems and related products and services, and Flow Control Division (FCD), which includes engineered and industrial valves, control valves, actuators and controls and related services. Effective December 10, 2013, Flowserve Corp acquired Innovative Mag-Drive LLC.
Through the Company's manufacturing platform and global network of Quick Response Centers (QRCs), the Company offers an array of aftermarket equipment services, such as installation, advanced diagnostics, repair and retrofitting. The Company's product portfolio of pumps, valves, seals, automation and aftermarket services supports global infrastructure industries, including oil and gas, chemical, power generation and water management, as well as certain general industrial markets where the Company's products and services add value. The Company sells its products and services to more than 10,000 companies, including some of the engineering, procurement and construction firms (EPC), original equipment manufacturers, distributors and end users.
Engineered Product Division
The Company designs, manufactures, distributes and services engineered pumps and pumps systems, mechanical seals, auxiliary systems, replacement parts and related equipment. The business primarily consists of long lead time, engineered, configured products, which require extensive test requirements a! nd project management skills. EPD products and services are primarily used by companies that operate in the oil and gas, power generation, chemical, water management and general industries. The Company markets its pump and mechanical seals products through its global sales force and its regional QRCs and service and repair centers or through independent distributors and sales representatives. A portion of the Company's mechanical seal products are sold directly to original equipment manufacturers for incorporation into rotating equipment requiring mechanical seals. The Company's pump products are manufactured in a range of metal alloys and with a variety of configurations to meet the critical operating demands of the Company's customers.
The Company also manufactures a gas-lubricated mechanical seal that is used in high-speed compressors for gases pipelines and in the oil and gas production and process markets. The Company's products are manufactured at 29 plants worldwide, nine of which are located in Europe, 11 in North America, four in Asia Pacific and five in Latin America. The Company also conducts business through strategic foreign joint ventures. The Company has six unconsolidated joint ventures that are located in China, India, Japan, Saudi Arabia, South Korea and the United Arab Emirates, where a portion of its products are manufactured, assembled or serviced in these territories. The Company manufactures more than 40 different active types of pumps and approximately 185 different models of mechanical seals and sealing systems.
The Company's EPD products include between bearings pumps, which include single case- axially split, single case- radially split, double case; overhung pumps, which includes api process; positive displacement pumps, which includes multiphase, reciprocating and screw; mechanical seals and seal support systems, which includes gas barrier seals and dry-running seals, and specialty products, which includes nuclear pumps, nuclear seals, cryogenic p! umps, cry! ogenic liquid expander, hydraulic decoking systems, and API slurry pumps. The Company�� EPD Brand Names include BW Seals, Byron Jackson, Calder Energy Recovery Devices, Cameron, Durametallic, Five Star Seal, Jeumont-Schneider, and Interseal. EPD Services includes provision of engineered aftermarket services through its global network of 128 QRCs, some of which are co-located in manufacturing facilities, in 41 countries. Its EPD service personnel provide a comprehensive set of equipment services for flow management control systems, including installation, commissioning, repair, advanced diagnostics, re-rate and retrofit programs, machining and comprehensive asset management solutions. The Company provides asset management services and condition monitoring for rotating equipment through special contracts with many of its customers that reduce maintenance costs.
Industrial Product Division
The Company designs , manufactures, distributes and services pre-configured engineered pumps and pumps systems, including submersible motors, for industrial markets. IPD's standardized, general purpose pump products are primarily utilized by the oil and gas, chemical, water management, power generation and general industries. The Company's products are manufactured in 12 manufacturing facilities, three of which are located in the United States and six in Europe. IPD operates 20 QRCs worldwide, including 11 sites in Europe, three in the United States , five in Asia Pacific and one in Latin America. The Company manufactures approximately 40 different active types of pumps available in a wide range of metal alloys and non-metallics with a variety of configurations. The products includes Overhung, which includes Chemical Process ANSI and ISO, Industrial Process , and Slurry and Solids Handling ; Specialty Products, which includes Molten Salt VTP Pump, Submersible Pump, Thruster, Geothermal Deepwell, and Barge Pump; Between Bearings, which includes Single Case- Axially Split and Single Case- Radia! lly Split! ; Vertical, which includes Wet Pit, Deep Well Submersible Motor, Slurry and Solids Handling, and Sump; Positive Displacement, which includes Gear. The Company�� brands include Aldrich, Durco, IDP, Pacific, Pleuger, Scienco, Sier Bath, Western Land Roller, TKL, Worthington, and Worthington-Simpson. The Company markets its pump products through its worldwide sales force and its regional service and repair centers or through independent distributors and sales representatives. The Company provide an array of aftermarket services including product installation and commissioning services, spare parts, repairs, re-rate and upgrade solutions, advanced diagnostics and maintenance solutions through its global network of QRCs.
Flow Control Division
The Company�� FCD designs, manufactures, distributes and services a portfolio of industrial valve and automation solutions, including isolation and control valves, actuation, controls and related equipment. In addition, FCD offers energy management products, such as steam traps, boiler controls and condensate and energy recovery systems. FCD products are used to control, direct and manage the flow of liquids and gases and are an integral part of any flow control system. The Company's valve products are often customized and engineered to perform specific functions within each customer's unique flow control environment. The Company's flow control products are primarily used by companies operating in the chemical (including pharmaceutical), power generation (nuclear, fossil and renewable), oil and gas, water management and general industries (including aerospace, pulp and paper and mining). FCD has 58 sites worldwide, including 25 principal manufacturing facilities ( five of which are located in the United States and 13 of which are located in Europe) and 33 QRCs, including three consolidated joint ventures. A small portion of the Company's valves are also produced through an unconsolidated joint venture in India.
The Company's pr! oducts ar! e used in a variety of applications, from general service to the severe and demanding services, including those involving high levels of corrosion, extreme temperatures and/or pressures, zero fugitive emissions and emergency shutdown. The Company's smart valve and diagnostic technologies integrate sensors, microprocessor controls and software into high performance integrated control valves, digital positioners and switchboxes for automated on/off valve assemblies and electric actuators. These technologies permit real-time system analysis, system warnings and remote indication of asset health. These technologies have been developed in response to the growing demand for reduced maintenance, improved process control efficiency and digital communications at the plant level. The Company's valve automation products encompass a range of pneumatic, electric, hydraulic and stored energy actuation designs to take advantage of whatever power source the customer has available.
The Company�� products includes valve automation systems, control valves, ball valves, gate valves, globe valves, check valves, lined plug valves, lubricated plug valves, diagnostic software, digital positioners, pneumatic positioners, intelligent positioners, pneumatic actuators, hydraulic actuators, diaphragm actuators, direct gas and gas-over-oil actuators. steam traps, boiler controls, digital communications, and valve and automation repair services. The Company�� brands include Accord, Anchor/Darling, Argus, Atomac, Durco, Edward, Flowserve, Gestra, Kammer, Limitorque, McCANNA/MARPAC, NAF, NAVAL, Noble Alloy, Norbro, Nordstrom, PMV, Serck Audco, Schmidt Armaturen, Valbart, Valtek, Vogt, and Worcester Controls. The Company provides equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs and field machining capabilities.
The Company competes with Sulzer Pumps, Ebara Corp., SPX Corp., Eagle Burgmann, A. W. Chesterton Co. an! d AES Cor! p, John Crane Inc., and Weir Group Plc, ITT Industries, KSB Inc., Sulzer Pumps, Pentair Ltd., Cameron International Corp., Emerson Electric Co., General Electric Co. and Crane Co.
Advisors' Opinion:- [By Ben Levisohn]
Xylem’s big day has also boosted other water-infrastructure stocks. Flowserve (FLS) has gained 1.2% to $70.59, Idex Corp. (IEX) has risen 0.5% to $68.69 and Thermo Fisher Scientific (TMO) has advanced 0.4% t0 $98.22.
- [By Charles Carlson]
If you are new to DRIP investing, treat yourself to a few DRIPs this holiday season. Trust me��t'll change your life.
American Water Works (AWK)��ielding 2.7% with a DRIP minimum of $100
Cincinnati Financial (CINF)��ielding 3.2% with a DRIP minimum of $25
CVS Caremark (CVS)��ielding 1.4% with a DRIP minimum of $100
Dominion Resources (D)��ielding 3.4% with a DRIP minimum of $40
Domino's Pizza (DPZ)��ielding 1.2% with a DRIP minimum of $65
Eaton (ETN)��ielding 2.3% with a DRIP minimum of $100
Flowserve (FLS)��ielding 0.8% with a DRIP minimum of $100
Kellogg (K)��ielding 3.0% with a DRIP minimum of $50
New Jersey Resources (NJR)��ielding 3.7% with a DRIP minimum of $100
Quest Diagnostics (DGX)��ielding 2.0% with a DRIP minimum of $100
Tim Hortons (THI)��ielding 1.7% with a DRIP minimum of $25
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Hot US Companies To Buy Right Now: Graham Corp (GHM)
Graham Corporation (Graham), incorporated on March 7, 1983, designs, manufactures and sells critical equipment for the energy industry which includes the oil refining, petrochemical, as well as cogeneration, nuclear and alternative power markets. It design and manufacture custom-engineered ejectors, pumps, surface condensers and vacuum systems as well as supplies and components for inside the reactor vessel and outside the containment vessel of nuclear power facilities. Its equipment is also used in nuclear propulsion power systems for the defense industry and can be found in other diverse applications such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. The Company�� two wholly owned subsidiaries include Graham Vacuum and Heat transfers Technology (Suzhou) Co., Ltd.
The Company's products are used in a range of industrial process applications, including Chemical and Petrochemical Processing, such as ethylene, methanol and nitrogen producing plants, plastics, resins and fibers plants and petrochemical intermediate plants, and Power Generation /Alternative Energy, such as propulsion systems for nuclear-powered aircraft carriers and other nuclear- powered vessels, air conditioning and water heating systems and liquefied natural gas production facilities. The Company's principal customers are in the chemical, petrochemical, petroleum refining and power generating industries, and are users of the Company's products in their manufacturing, refining and power generation processes, large engineering companies that build installations for companies in such industries, and/or the original equipment manufacturers, who combine its products with their equipment prior to its sale to end users.
The Company competes with Gardner Denver, Inc., GEA Wiegand GmbH, Edwards, Ltd, Korting Hannover AG, Croll Reynolds Company, Inc, Schutte Koerting, Gardner Denver, Inc, DongHwa En! tec Co., Ltd, Hangzhou Turbine Equipment Co., Chem Process Systems, Mazda (India), Oeltechnik GmbH, KEMCO, Holtec, Thermal Engineering International, SPX Heat Transfer, Chem Process Systems, Mazda (India)., Ambassador, Alfa Laval AB, APV, Xylem, Dubose, Consolidated, Tioga, Nova, Joseph Oats and Energy & Process.
Advisors' Opinion:- [By Rick Munarriz]
Friday
The market is typically quiet on Friday, but don't tell that to Graham (NYSEMKT: GHM ) . The maker of custom-engineered ejectors, pumps, condensers, vacuum systems, and heat exchangers reports on Friday morning. Analysts see profitability almost quadrupling to $0.31 a share, and revenue soaring 48%.
Hot US Companies To Buy Right Now: Eaton Vance Senior Floating-Rate Trust (EFR)
Eaton Vance Senior Floating-Rate Trust (the Fund) is a closed-end management investment company. The Fund�� investment objective is to provide a high level of current income and preservation of capital by investing primarily in senior, secured floating rate loans (Senior Loans). Eaton Vance Senior Floating-Rate Trust invests in various industries, including healthcare, publishing, cable and satellite television, chemicals and plastics, and business equipment and services.
The Fund invests at least 80% of its total assets in Senior Loans. The Fund may also invest in second lien loans and high yield bonds. Eaton Vance Management serves as the investment advisor of the Fund.
Advisors' Opinion:- [By John Dowdee]
The following 10 funds satisfied all of these conditions:
BlackRock Float Rate Strategies (FRA). This CEF sells at a discount of 3%, which is low compared to an average premium of 2% over the past year. The distribution has been managed at 6.1% and a small amount (less than 10%) has been return of capital (ROC). However, this has not negatively affected net asset value (NAV) so has not been destructive. The fund holds 447 securities, with 90% in floating rate loans. FRA utilizes 27% leverage and has an expense ratio of 1.7%, including interest payments. Eaton Vance Floating Rate (EFR). This CEF sells at a 1% premium, which is low compared to an average premium of 5% over the past year. The distribution is 6.2%, none of which was ROC. The fund holds 800 securities, with 90% in floating rate loans. About 85% of the securities are from U.S. companies. EFR utilizes 35% leverage and has an expense ratio of 1.8% including interest payments. ING Prime Rate Trust (PPR). This CEF sells for a premium of 2%, which is below the average premium of 5%. It has a distribution of 6.8%, none of which was ROC. The fund has 350 holdings, virtually all in senior loans and from US companies. PPR utilizes 29% leverage and has a high expense ratio of 2.1%, including interest payments. Invesco VK Dynamic Credit Opportunities (VTA). This CEF sells for a discount of 5%, which is below the average discount of 1%. It has a distribution of 7.1%, none of which was ROC. The fund has 495 holdings, with 76% in floating rate loans. About 25% of the loans are from non-US companies. VTA utilizes a relatively low 20% leverage but still has a high expense ratio of 2.1%, including interest payments. Invesco VK Senior Income (VVR). This CEF sells for a discount of 1%, which is below the average premium of 3%. It has a distribution of 7.1%, none of which was ROC. The fund has over 500 holdings, with 89% in floating rate loans. Almost all (95%) securities are from US companies. VVR ut
Hot US Companies To Buy Right Now: Chalmers Ltd (CHR)
Chalmers Limited is an Australia-based company engaged in transport, logistic services, warehousing and container storage, repairs and sales. The Company operated in three segments: Transport, Containers and Property. Transport consists of road transport, predominantly import/export FCL containers and the interface with logistics/ warehousing/hubbing services. Containers represent the empty container park operations concerned with handling, storage, repairs, upgrades, pretrips and so on of empty containers on behalf of shipping and leasing company customers. Property represents the capital investment Chalmers has in freeholds located in Melbourne. The Company�� subsidiaries include Chalmers Industries Pty Ltd, Chalmers (Australia) Pty Ltd and Chalmers Industries (Brisbane) Pty Ltd. Advisors' Opinion:- [By Corinne Gretler]
Chr. Hansen A/S (CHR) slid 1.7 percent to 186 kroner after Credit Suisse Group AG cut the stock to neutral, the equivalent of hold, from outperform. The brokerage said that profit from its natural-color business remains under pressure. The world�� biggest maker of dairy enzymes cut its full-year sales forecast on July 3 because of lower prices for the red pigment carmine.
Hot US Companies To Buy Right Now: Pentair Inc.(PNR)
Pentair, Inc. operates as a diversified industrial manufacturing company worldwide. The company?s Water segment offers products and systems for use in the movement, storage, treatment, and enjoyment of water. It offers light duty diaphragm pumps and solid handling pumps for water and wastewater applications and agricultural spraying; and pressure tanks for residential applications. This segment also provides control valves, pressure tanks, membranes, carbon products, point of entry and point of use systems, and other filter cartridges for commercial and residential water filtration applications; and pool equipment and accessories, such as pumps, filters, heaters and heat pumps, lights, automatic controls, automatic pool cleaners, commercial deck equipment, maintenance equipment, and pool accessories for commercial and residential pool maintenance, repair and renovation, and service and construction. In addition, it offers filter systems, filter cartridges, pressure vessels , and dispensing pumps for commercial, foodservice, industrial, marine and aviation markets. This segment distributes its products through wholesale distributors, retail distributors, original equipment manufacturers (OEM), home centers, and home and pool builders. The company?s Technical Products segment provides standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components, as well as protect people that use them. Its products comprise metallic and composite enclosures, cabinets, cases, subracks, backplanes, and associated thermal management systems used in industrial machinery, data communications, networking, telecommunications, test and measurement, automotive, medical, security, defense, and general electronics. This segment distributes its products through electrical and data contractors, electrical and electronic components distributors, and OEMs. Pentair, Inc. was founded in 1966 and is based in Golden Valley, Minne sota.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Pentair (NYSE: PNR ) , whose recent revenue and earnings are plotted below. - [By James E. Brumley]
What do BG Medicine, Inc. (NASDAQ:BGMD) and Pentair, Ltd. (NYSE:PNR) have in common? Most investors would say absolutely nothing. BGMD is a small cap medical diagnostics company, while PNR is a large cap industrial equipment manufacturer. Those are worlds that simply never collide. The directions each stock has been traveling in over the past few months have even been polar opposites.
- [By The Part-time Investor]
The following stocks met the criteria in January of 2008 and were put into the initial portfolio:
Abbot Labs (ABT)Advanced data processing (ADP)Associated Banc-Corp (ASBC)Bank of America (BAC)BB&T Corp. (BBT)Bemis Company (BMS)Anheuser Busch (BUD)The Chubb Corporation (CB)Clorox (CLX)Comerica Inc. (CMA)Diebold Inc. (DBD)Emerson Electronics (EMR)First Dollar Corp. (FDO)First Third BanCorp. (FITB)Gannett Co, Inc. (GCI)General Electric (GE)Hershey (HSY)Illinois Tools Works (ITW)Johnson and Johnson (JNJ)Leggett and Platt (LEG)Eli Lilly (LLY)La-Z-Boy (LZB)McDonald's (MCD)Marsh and Ilsley (MI)M&T Bancorp (MTB)PepsiCo (PEP)Pfizer (PFE)Procter & Gamble (PG)Pentair Ltd. (PNR)Regions Financial Corp. (RF)Rohm and Haas (ROH)RPM International (RPM)Sherwin Williams (SHW)Sysco Corp. (SYY)UDR Inc. (UDR)Historical quotes were taken from Yahoo Finance. $10,000 was put into each position, to the nearest whole share, so a total of $349,262.89 was invested. From 1/15/08 through 5/16/13 all dividends were reinvested back into the stock that paid them. If a dividend cut was announced, that stock was sold on the ex-div date of the new, lower dividend.
Hot US Companies To Buy Right Now: NRG Energy Inc.(NRG)
NRG Energy, Inc., together with its subsidiaries, operates as a wholesale power generation company. The company engages in the ownership, development, construction, and operation of power generation facilities. It also involves in the transacting in and trading of fuel and transportation services; the trading of energy, capacity, and related products in the United States and internationally; and the supply of electricity, energy services, and cleaner energy and carbon offset products to retail electricity customers in deregulated markets. The company operates natural gas- fired, coal- fired, oil-fired, nuclear, solar, and wind power plants. As of December 31, 2010, it had power generation portfolio of 193 operating fossil fuel and nuclear generation units with an aggregate generation capacity of approximately 24,570 megawatt (MW), as well as ownership interests in renewable facilities with an aggregate generation capacity of 470 MW. The company portfolio also includes appr oximately 24,035 MW generation capacity in the United States, and 1,005 MW generation capacity in Australia and Germany. In addition, it has a district energy business with steam and chilled water capacity of approximately 1,140 megawatts thermal equivalent. NRG Energy, Inc. was founded in 1989 and is headquartered in Princeton, New Jersey.
Advisors' Opinion:- [By John Udovich]
He added that while the fuel cell industry has developed slowly, this year has been different as ��e did see a lot more recognition that the kind of things we are doing can really add value, not just economic but also offsetting infrastructure costs.��Last September, FuelCell Energy Inc�reported an 81% revenue increase to $53.7 million and a net loss attributable to common shareholders of $6.4 million verses�$10.7 million while�total cash on the balance sheet increased by $19.7 million thanks to the net proceeds of $35.5 million from the issuance of convertible notes at a conversion price of approximately $1.55 per share during the quarter (Note: Shares closed at $1.35 on Tuesday). However and besides the smaller net loss, what excited shareholders was the announcement of�a co-marketing agreement with NRG Energy Inc (NYSE: NRG) for the marketing and sales of FuelCell Energy Inc power plants. Specifically, NRG will market the power plants to its customer base as well as offer a�financing option utilizing a power purchase agreement.
- [By Stoyan Bojinov]
Deutsche Bank announced on Monday that is was maintaining a “Hold” rating on the New Jersey-based electric utility company NRG Energy Inc. (NRG), but went on to lower its price target for the company.
Greg Poole, an analyst with the firm, commented, “NRG has several diverse businesses – generation, retail, solar, clean energy technologies, and now a separate MLP-like income vehicle for contracted assets. This helps to diversify away from the seemingly perennially challenged merchant generation business, but it also results in an increasingly complex story that may pose a challenge for investors and valuation.” As such, Deutsche Bank announced it was lowering its price target from $27 to $26 a share.
NRG Energy Inc. shares crept higher, gaining 1.11% on the day. The stock is up almost 15% YTD.
- [By David Dittman]
NRG Energy Inc�� (NYSE: NRG) 2013 coal-fired share of generation was 28.8 percent, but it�� been actively adding renewable sources. Its stock was up 2.2 percent. NextEra Energy Inc (NYSE: NEE), owner/operator of the largest fleet of renewable generation in the US with just 1.7 percent of its output from coal, was up 2.8 percent.
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