Isthmus Partners LLC Lowers Holdings in Flowserve Co. (NYSE:FLS)

Isthmus Partners LLC reduced its position in shares of Flowserve Co. (NYSE:FLS) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 228,377 shares of the industrial products company’s stock after selling 4,682 shares during the period. Flowserve comprises about 1.6% of Isthmus Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Isthmus Partners LLC’s holdings in Flowserve were worth $13,136,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its holdings in shares of Flowserve by 9.6% in the third quarter. US Bancorp DE now owns 5,433 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 475 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Flowserve by 14.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company’s stock valued at $1,833,000 after purchasing an additional 4,351 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Flowserve by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 342 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 318 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Flowserve by 29.4% during the third quarter. Los Angeles Capital Management LLC now owns 129,531 shares of the industrial products company’s stock valued at $6,695,000 after purchasing an additional 29,392 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird upped their target price on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Citigroup dropped their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Stifel Nicolaus increased their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reduced their price objective on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Price Performance

NYSE FLS opened at $48.44 on Monday. The stock’s fifty day moving average price is $59.35 and its 200 day moving average price is $56.34. Flowserve Co. has a 1 year low of $43.00 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.35 and a beta of 1.43.

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

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

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.