Flowserve Co. (NYSE:FLS) Stock Holdings Cut by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. cut its stake in shares of Flowserve Co. (NYSE:FLS) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,550 shares of the industrial products company’s stock after selling 4,100 shares during the quarter. Flowserve accounts for 1.2% of John G Ullman & Associates Inc.’s portfolio, making the stock its 19th largest holding. John G Ullman & Associates Inc. owned 0.11% of Flowserve worth $8,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of FLS. True Wealth Design LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Flowserve during the 3rd quarter worth $29,000. Allworth Financial LP boosted its stake in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

Shares of NYSE:FLS opened at $55.03 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 1 year low of $41.78 and a 1 year high of $65.08. The business has a fifty day simple moving average of $60.16 and a 200 day simple moving average of $56.11. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.35 and a beta of 1.42.

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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FLS shares. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Citigroup reduced their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. StockNews.com lowered Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Royal Bank of Canada reduced their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their target price for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Company 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.