Murphy Pohlad Asset Management LLC Has $3.88 Million Holdings in Flowserve Co. (NYSE:FLS)

Murphy Pohlad Asset Management LLC reduced its stake in Flowserve Co. (NYSE:FLS) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,415 shares of the industrial products company’s stock after selling 1,500 shares during the period. Flowserve makes up approximately 1.7% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Murphy Pohlad Asset Management LLC owned about 0.05% of Flowserve worth $3,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FLS. State Street Corp increased its holdings in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after buying an additional 37,132 shares during the period. Thrivent Financial for Lutherans increased its holdings in Flowserve by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after purchasing an additional 44,039 shares in the last quarter. Geode Capital Management LLC raised its position in Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after purchasing an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Flowserve by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock worth $90,761,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after buying an additional 422,141 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 0.5 %

Flowserve stock opened at $61.45 on Thursday. The company has a market capitalization of $8.07 billion, a PE ratio of 30.42, a PEG ratio of 1.31 and a beta of 1.42. Flowserve Co. has a 12-month low of $39.69 and a 12-month high of $65.08. The firm’s fifty day moving average is $60.33 and its 200 day moving average is $54.38. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.50 EPS. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve Co. will post 2.7 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 annualized dividend and a yield of 1.37%. Flowserve’s payout ratio is currently 41.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on FLS. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho raised their target price on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, Stifel Nicolaus increased their target price on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.50.

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.