John G Ullman & Associates Inc. Sells 4,100 Shares of Flowserve Co. (NYSE:FLS)

John G Ullman & Associates Inc. reduced its stake in shares of Flowserve Co. (NYSE:FLS) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,550 shares of the industrial products company’s stock after selling 4,100 shares during the period. Flowserve accounts for approximately 1.2% of John G Ullman & Associates Inc.’s portfolio, making the stock its 19th biggest holding. John G Ullman & Associates Inc.’s holdings in Flowserve were worth $8,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLS. Point72 Asset Management L.P. grew its position in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after purchasing an additional 606,416 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after purchasing an additional 422,141 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Flowserve by 66.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 555,115 shares of the industrial products company’s stock valued at $31,930,000 after purchasing an additional 220,805 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Flowserve by 28.5% in the fourth quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company’s stock valued at $42,876,000 after purchasing an additional 165,449 shares during the last quarter. Finally, Regents Gate Capital LLP acquired a new stake in shares of Flowserve in the fourth quarter valued at about $9,182,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Up 1.2 %

Shares of FLS opened at $55.03 on Friday. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.35 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12 month low of $41.78 and a 12 month high of $65.08. The company has a 50-day moving average price of $60.16 and a two-hundred day moving average price of $56.11.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion for 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%. Equities analysts predict that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FLS shares. Mizuho raised their price target on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird lifted their target price on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Citigroup decreased their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada decreased their target price on Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, TD Cowen lifted their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

About Flowserve

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.