Jacobson & Schmitt Advisors LLC Purchases 9,251 Shares of Flowserve Co. (NYSE:FLS)

Jacobson & Schmitt Advisors LLC boosted its position in Flowserve Co. (NYSE:FLS) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,915 shares of the industrial products company’s stock after acquiring an additional 9,251 shares during the quarter. Flowserve accounts for approximately 2.5% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 18th largest holding. Jacobson & Schmitt Advisors LLC owned about 0.18% of Flowserve worth $12,194,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLS. AQR Capital Management LLC boosted its holdings in shares of Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after purchasing an additional 663,631 shares during the period. Earnest Partners LLC increased its stake in shares of Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after purchasing an additional 121,873 shares in the last quarter. Millennium Management LLC increased its position in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Flowserve by 3.4% during the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after acquiring an additional 83,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Flowserve by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock valued at $108,191,000 after acquiring an additional 169,506 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

FLS opened at $52.64 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $6.92 billion, a PE ratio of 26.06, a PEG ratio of 1.28 and a beta of 1.39. The firm’s 50-day moving average price is $50.72 and its 200 day moving average price is $48.98. Flowserve Co. has a twelve month low of $35.80 and a twelve month high of $55.90.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 41.58%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday. TD Cowen increased their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird increased their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Bank of America upped their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average target price of $60.10.

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.