Murphy Pohlad Asset Management LLC Reduces Stock Holdings in Flowserve Co. (NYSE:FLS)

Murphy Pohlad Asset Management LLC trimmed its position in Flowserve Co. (NYSE:FLS) by 2.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 68,915 shares of the industrial products company’s stock after selling 1,845 shares during the period. Flowserve comprises about 1.5% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Murphy Pohlad Asset Management LLC’s holdings in Flowserve were worth $3,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC lifted its position in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Flowserve during the 3rd quarter valued at about $27,000. nVerses Capital LLC purchased a new position in shares of Flowserve during the 2nd quarter valued at about $34,000. Allworth Financial LP lifted its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 1.7 %

Shares of FLS opened at $53.54 on Friday. The firm has a market capitalization of $7.03 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.28 and a beta of 1.39. Flowserve Co. has a 12-month low of $36.56 and a 12-month high of $55.90. 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 fifty day moving average price of $50.81 and a 200-day moving average price of $49.00.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Equities research analysts expect that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Flowserve’s payout ratio is currently 41.58%.

Analyst Ratings Changes

A number of research analysts recently commented on FLS shares. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada raised their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. Finally, Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.