47,007 Shares in Flowserve Co. (NYSE:FLS) Bought by Marietta Investment Partners LLC

Marietta Investment Partners LLC acquired a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,007 shares of the industrial products company's stock, valued at approximately $2,704,000.

A number of other large investors have also bought and sold shares of FLS. State Street Corp raised its stake in Flowserve by 1.0% in the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock valued at $201,685,000 after acquiring an additional 37,132 shares during the period. Geode Capital Management LLC raised its position in shares of Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock valued at $113,851,000 after purchasing an additional 23,529 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Flowserve by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock valued at $90,761,000 after buying an additional 4,414 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after buying an additional 422,141 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Flowserve by 197.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock valued at $47,207,000 after buying an additional 606,416 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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Flowserve Trading Up 0.4 %

NYSE:FLS traded up $0.23 during trading hours on Tuesday, reaching $52.68. The company's stock had a trading volume of 298,301 shares, compared to its average volume of 1,512,275. The firm has a 50-day simple moving average of $57.41 and a 200-day simple moving average of $56.41. 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 1 year low of $43.66 and a 1 year high of $65.08. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.21 billion. Research analysts expect 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 issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. Flowserve's dividend payout ratio is currently 39.25%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FLS. Mizuho raised their target price on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their price objective on shares of Flowserve from $75.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. StockNews.com cut shares of Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, TD Cowen lifted their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average 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.