Isthmus Partners LLC Boosts Stake in Flowserve Co. (NYSE:FLS)

Isthmus Partners LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233,059 shares of the industrial products company’s stock after buying an additional 1,344 shares during the period. Isthmus Partners LLC owned approximately 0.18% of Flowserve worth $12,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. KPP Advisory Services LLC boosted its position in Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares during the period. PNC Financial Services Group Inc. boosted its position in Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after buying an additional 277 shares during the period. Crossmark Global Holdings Inc. boosted its position in Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock valued at $442,000 after buying an additional 318 shares during the period. Verdence Capital Advisors LLC boosted its position in 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 buying an additional 342 shares during the period. Finally, Signaturefd LLC boosted its position in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FLS shares. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Price Performance

NYSE FLS opened at $60.73 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $55.25 and a 200 day simple moving average of $50.61. The company has a market cap of $7.98 billion, a P/E ratio of 30.06, a P/E/G ratio of 1.46 and a beta of 1.38. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $62.22.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.50 earnings per share. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Flowserve Co. will post 2.71 EPS for the current year.

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.