Isthmus Partners LLC Acquires 1,344 Shares of Flowserve Co. (NYSE:FLS)

Isthmus Partners LLC grew its holdings in Flowserve Co. (NYSE:FLS) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 233,059 shares of the industrial products company’s stock after purchasing an additional 1,344 shares during the quarter. Isthmus Partners LLC’s holdings in Flowserve were worth $12,047,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FLS. V Square Quantitative Management LLC bought a new position in Flowserve during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $29,000. Signaturefd LLC raised its holdings in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the last quarter. Allworth Financial LP increased its holdings in 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 during the last quarter. Finally, nVerses Capital LLC acquired a new position in Flowserve during the second quarter worth $34,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Mizuho boosted their target price on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. TD Cowen upped their price objective on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus increased their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Stock Performance

NYSE:FLS opened at $60.73 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $62.22. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.46 and a beta of 1.38. The business has a 50 day moving average of $55.25 and a 200 day moving average of $50.61.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. On average, sell-side analysts predict that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Company 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.