Isthmus Partners LLC Sells 930 Shares of Flowserve Co. (NYSE:FLS)

Isthmus Partners LLC lowered its stake in shares of Flowserve Co. (NYSE:FLS) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,673 shares of the industrial products company’s stock after selling 930 shares during the quarter. Isthmus Partners LLC owned about 0.12% of Flowserve worth $6,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of FLS. Logan Capital Management Inc. boosted its holdings in Flowserve by 1.2% in the first quarter. Logan Capital Management Inc. now owns 21,873 shares of the industrial products company’s stock worth $849,000 after acquiring an additional 261 shares in the last quarter. US Bancorp DE boosted its holdings in Flowserve by 4.4% in the second quarter. US Bancorp DE now owns 9,020 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 379 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Flowserve by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,208 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 551 shares in the last quarter. American Century Companies Inc. boosted its holdings in Flowserve by 6.6% in the second quarter. American Century Companies Inc. now owns 9,358 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 580 shares in the last quarter. Finally, Eaton Vance Management boosted its holdings in Flowserve by 2.9% in the first quarter. Eaton Vance Management now owns 20,941 shares of the industrial products company’s stock worth $813,000 after acquiring an additional 587 shares in the last quarter. 94.67% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on FLS shares. TheStreet downgraded Flowserve from a “b-” rating to a “c+” rating in a report on Monday, May 24th. Zacks Investment Research downgraded Flowserve from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a report on Tuesday, June 22nd. Cowen raised Flowserve from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $48.00 in a report on Wednesday, July 7th. Credit Suisse Group raised Flowserve from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $43.00 to $48.00 in a report on Thursday, July 8th. Finally, Royal Bank of Canada decreased their target price on Flowserve from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Monday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.57.

FLS stock traded up $0.29 during trading on Wednesday, hitting $35.82. 1,329 shares of the company traded hands, compared to its average volume of 954,908. The stock’s 50-day simple moving average is $39.96 and its 200 day simple moving average is $40.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.28 and a quick ratio of 1.64. The company has a market cap of $4.67 billion, a PE ratio of 27.76, a P/E/G ratio of 1.81 and a beta of 1.77. Flowserve Co. has a 1 year low of $25.87 and a 1 year high of $44.39.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). The company had revenue of $898.18 million for the quarter, compared to analysts’ expectations of $891.43 million. Flowserve had a net margin of 4.57% and a return on equity of 12.59%. Research analysts expect that Flowserve Co. will post 1.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 8th. Stockholders of record on Friday, September 24th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 23rd. Flowserve’s dividend payout ratio (DPR) is presently 45.98%.

Flowserve Profile

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

Featured Article: Trading Strategy Examples and Plans

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Co. (NYSE:FLS).

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.