John G Ullman & Associates Inc. Sells 3,050 Shares of Flowserve Co. (NYSE:FLS)

John G Ullman & Associates Inc. decreased its position in shares of Flowserve Co. (NYSE:FLS) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 161,600 shares of the industrial products company’s stock after selling 3,050 shares during the quarter. Flowserve makes up 1.1% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 28th largest position. John G Ullman & Associates Inc. owned approximately 0.12% of Flowserve worth $6,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Flowserve during the 4th quarter worth $26,000. First Manhattan CO. LLC. grew its stake in shares of Flowserve by 682.6% during the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 785 shares during the period. Quarry LP bought a new position in shares of Flowserve during the 1st quarter worth $38,000. Harbour Investments Inc. lifted its holdings in Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 700 shares in the last quarter. Finally, Gyon Technologies Capital Management LP purchased a new stake in Flowserve during the 4th quarter worth about $58,000. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday. Robert W. Baird increased their price objective on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Mizuho increased their price objective on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Citigroup increased their price objective on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus raised their price target on Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.25.

Flowserve Price Performance

Shares of NYSE:FLS traded up $0.05 on Friday, hitting $45.68. The company’s stock had a trading volume of 350,359 shares, compared to its average volume of 1,077,496. The company has a market capitalization of $5.99 billion, a PE ratio of 32.36, a PEG ratio of 1.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. Flowserve Co. has a 1 year low of $32.05 and a 1 year high of $48.31. The company has a 50-day simple moving average of $44.43 and a 200 day simple moving average of $40.93.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. Flowserve’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. Sell-side analysts forecast that Flowserve Co. will post 2.54 EPS for the current fiscal year.

Flowserve Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 27th. Flowserve’s dividend payout ratio (DPR) is currently 59.57%.

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.