Marietta Investment Partners LLC Has $1.59 Million Stock Position in Flowserve Corporation (NYSE:FLS)

Marietta Investment Partners LLC lowered its holdings in shares of Flowserve Corporation (NYSE:FLS) by 31.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 32,454 shares of the industrial products company’s stock after selling 14,553 shares during the period. Marietta Investment Partners LLC’s holdings in Flowserve were worth $1,585,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FLS. Commonwealth Equity Services LLC raised its stake in shares of Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock valued at $1,197,000 after acquiring an additional 10,557 shares during the last quarter. Corient Private Wealth LLC increased its stake in Flowserve by 8.5% in the fourth quarter. Corient Private Wealth LLC now owns 5,417 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 423 shares in the last quarter. American Century Companies Inc. increased its stake in Flowserve by 25.9% in the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock valued at $6,384,000 after purchasing an additional 22,850 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Flowserve in the fourth quarter valued at $1,546,000. Finally, LPL Financial LLC grew its holdings in shares of Flowserve by 12.3% during the fourth quarter. LPL Financial LLC now owns 66,519 shares of the industrial products company’s stock valued at $3,826,000 after buying an additional 7,302 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS opened at $54.85 on Friday. The company’s 50 day moving average is $50.82 and its 200-day moving average is $51.86. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $7.17 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, June 27th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FLS shares. Citigroup lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Royal Bank Of Canada lifted their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Flowserve from $59.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 21st. Robert W. Baird reduced their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.00.

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.