47,007 Shares in Flowserve Co. (NYSE:FLS) Purchased by Marietta Investment Partners LLC

Marietta Investment Partners LLC acquired a new position in Flowserve Co. (NYSE:FLS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 47,007 shares of the industrial products company’s stock, valued at approximately $2,704,000.

A number of other institutional investors have also bought and sold shares of the business. HighTower Advisors LLC raised its position in shares of Flowserve by 0.6% during the 3rd quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 215 shares during the period. Arizona State Retirement System increased its holdings in Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Savant Capital LLC increased its holdings in Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock valued at $3,541,000 after purchasing an additional 251 shares during the last quarter. National Bank of Canada FI increased its holdings in Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 252 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 purchasing an additional 277 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

Shares of FLS opened at $50.65 on Friday. Flowserve Co. has a 1-year low of $43.66 and a 1-year high of $65.08. The stock has a market cap of $6.67 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a fifty day moving average price of $57.54 and a 200 day moving average price of $56.25.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%. Flowserve’s payout ratio is 39.25%.

Analysts Set New Price Targets

FLS has been the subject of several research reports. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Mizuho boosted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. TD Cowen boosted their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus boosted their price target on shares of Flowserve from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $68.60.

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.