Jacobson & Schmitt Advisors LLC Lowers Stake in Flowserve Co. (NYSE:FLS)

Jacobson & Schmitt Advisors LLC cut its position in shares of Flowserve Co. (NYSE:FLS) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,033 shares of the industrial products company’s stock after selling 2,882 shares during the quarter. Flowserve makes up 2.6% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 15th largest position. Jacobson & Schmitt Advisors LLC owned about 0.18% of Flowserve worth $13,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FLS. True Wealth Design LLC purchased a new stake in shares of Flowserve during the third quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Flowserve during the third quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve during the third quarter worth about $29,000. Allworth Financial LP grew its holdings in shares of Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Flowserve by 64.2% in the fourth 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 period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Down 6.4 %

NYSE FLS opened at $59.04 on Thursday. The company’s fifty day simple moving average is $60.75 and its 200-day simple moving average is $55.69. Flowserve Co. has a 52 week low of $41.60 and a 52 week high of $65.08. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $7.76 billion, a P/E ratio of 29.23, a PEG ratio of 1.27 and a beta of 1.42.

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 return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Equities research analysts predict that Flowserve Co. will post 2.7 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 given 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 1.42%. Flowserve’s payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FLS shares. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Stifel Nicolaus boosted their target price on shares of Flowserve from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 24th. Robert W. Baird boosted their target price on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Flowserve Profile

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.