Flowserve Co. (NYSE:FLS) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC lowered its position in shares of Flowserve Co. (NYSE:FLS) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 231,715 shares of the industrial products company’s stock after selling 3,815 shares during the quarter. Isthmus Partners LLC’s holdings in Flowserve were worth $111,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its holdings in shares of Flowserve by 2.8% during the first quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 259 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Flowserve by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock valued at $2,127,000 after acquiring an additional 305 shares during the last quarter. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Flowserve by 7.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 426 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Flowserve by 0.3% during the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE FLS traded down $1.09 on Friday, hitting $45.51. The company had a trading volume of 834,542 shares, compared to its average volume of 1,016,345. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. The company has a market capitalization of $5.99 billion, a PE ratio of 25.71, a PEG ratio of 1.19 and a beta of 1.42. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $52.09. The company’s fifty day moving average price is $48.10 and its 200-day moving average price is $47.15.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts predict that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen increased their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada boosted their price target on Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Bank of America lifted their target price on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Stifel Nicolaus increased their price target on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.11.

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.