John G Ullman & Associates Inc. Cuts Stock Position in Flowserve Corporation $FLS

John G Ullman & Associates Inc. lessened its holdings in Flowserve Corporation (NYSE:FLS) by 0.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 143,500 shares of the industrial products company’s stock after selling 1,300 shares during the period. Flowserve accounts for approximately 1.1% of John G Ullman & Associates Inc.’s holdings, making the stock its 23rd biggest position. John G Ullman & Associates Inc. owned about 0.11% of Flowserve worth $7,512,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FLS. TD Private Client Wealth LLC purchased a new stake in Flowserve in the 2nd quarter worth $25,000. Hilltop National Bank purchased a new position in shares of Flowserve during the second quarter valued at about $31,000. IFP Advisors Inc grew its position in shares of Flowserve by 1,289.6% during the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Flowserve by 74.5% during the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 344 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Flowserve by 71.5% during the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 0.3%

Shares of NYSE:FLS opened at $50.56 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a 50-day moving average price of $53.70 and a 200 day moving average price of $50.64. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.03 and a beta of 1.27.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.7%. Flowserve’s dividend payout ratio (DPR) is presently 38.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.88.

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

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.