John G Ullman & Associates Inc. Has $7.79 Million Position in Flowserve Co. (NYSE:FLS)

John G Ullman & Associates Inc. decreased its holdings in shares of Flowserve Co. (NYSE:FLS) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,650 shares of the industrial products company’s stock after selling 1,700 shares during the quarter. Flowserve makes up 1.1% of John G Ullman & Associates Inc.’s holdings, making the stock its 26th biggest position. John G Ullman & Associates Inc.’s holdings in Flowserve were worth $7,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FLS. KPP Advisory Services LLC boosted its holdings in shares of Flowserve by 3.2% during the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock worth $364,000 after buying an additional 215 shares during the period. PNC Financial Services Group Inc. lifted its position in Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after acquiring an additional 277 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Flowserve by 0.7% during the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 305 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Flowserve by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 318 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Flowserve by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 342 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Down 0.3 %

Shares of NYSE FLS opened at $59.89 on Thursday. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.44 and a beta of 1.38. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12 month low of $37.24 and a 12 month high of $61.60. The stock has a 50-day moving average price of $53.83 and a two-hundred day moving average price of $50.19.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, analysts forecast that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of research reports. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada increased their price target on Flowserve from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

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.