Marietta Investment Partners LLC Makes New $2.70 Million Investment in Flowserve Co. (NYSE:FLS)

Marietta Investment Partners LLC bought a new position in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,007 shares of the industrial products company’s stock, valued at approximately $2,704,000.

A number of other hedge funds also recently bought and sold shares of FLS. True Wealth Design LLC purchased a new stake in Flowserve during the third quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve during the 3rd quarter valued at $29,000. UMB Bank n.a. lifted its holdings in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at $42,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Flowserve during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Price Performance

Shares of FLS opened at $50.65 on Friday. The business’s 50-day moving average is $57.54 and its two-hundred day moving average is $56.25. The company has a market capitalization of $6.67 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last posted its 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). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Analysts Set New Price Targets

Several brokerages have recently commented on FLS. Baird R W upgraded Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Mizuho increased their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Citigroup decreased their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.