Marietta Investment Partners LLC Takes Position in Flowserve Co. (NYSE:FLS)

Marietta Investment Partners LLC bought a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 47,007 shares of the industrial products company's stock, valued at approximately $2,704,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in 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 period. Massachusetts Financial Services Co. MA grew its holdings in Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after acquiring an additional 422,141 shares during the period. Raymond James Financial Inc. purchased a new position in Flowserve in the fourth quarter worth $14,546,000. Vaughan Nelson Investment Management L.P. lifted its holdings in 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 acquiring an additional 220,805 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Flowserve by 28.5% during the 4th quarter. Fisher Asset Management LLC now owns 745,404 shares of the industrial products company's stock worth $42,876,000 after purchasing an additional 165,449 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

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Analysts Set New Price Targets

FLS has been the topic of a number of research analyst reports. Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. TD Cowen raised 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. Royal Bank of Canada decreased their price objective on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded shares of Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.60.

Flowserve Trading Down 2.2 %

Shares of Flowserve stock traded down $1.15 during trading hours on Wednesday, reaching $51.29. The stock had a trading volume of 1,138,285 shares, compared to its average volume of 1,164,451. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. 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 $6.76 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.35 and a beta of 1.43. The firm has a 50 day simple moving average of $57.08 and a two-hundred day simple moving average of $56.43.

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). The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, equities research analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.64%. The ex-dividend date is Friday, March 28th. Flowserve's payout ratio is currently 39.25%.

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.