Isthmus Partners LLC Sells 4,682 Shares of Flowserve Co. (NYSE:FLS)

Isthmus Partners LLC cut its holdings in Flowserve Co. (NYSE:FLS) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,377 shares of the industrial products company’s stock after selling 4,682 shares during the period. Flowserve accounts for 1.6% of Isthmus Partners LLC’s portfolio, making the stock its 22nd largest holding. Isthmus Partners LLC owned 0.17% of Flowserve worth $13,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. True Wealth Design LLC bought a new position in Flowserve in the 3rd quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve in the third quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve during the 3rd quarter valued at about $29,000. UMB Bank n.a. lifted its position 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 valued at $41,000 after buying an additional 278 shares in the last quarter. Finally, Canton Hathaway LLC bought a new position in shares of Flowserve during the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLS shares. Robert W. Baird raised their target price on shares of Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. StockNews.com downgraded shares of 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 on the stock in a report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

Flowserve Stock Down 0.7 %

Shares of FLS opened at $48.44 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $59.35 and a 200 day moving average of $56.34. The company has a market cap of $6.38 billion, a PE ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 52-week low of $43.00 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last released its earnings results 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 the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

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

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.