Flowserve Co. (NYSE:FLS) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Flowserve Co. (NYSE:FLS) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,755,881 shares of the industrial products company’s stock after buying an additional 4,414 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.34% of Flowserve worth $90,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLS. Millennium Management LLC increased its stake in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Flowserve in the second quarter valued at $37,100,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after buying an additional 600,866 shares during the last quarter. Interval Partners LP boosted its position in shares of Flowserve by 60.1% in the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after buying an additional 348,107 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Flowserve by 58.3% in the 2nd quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 15,029 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Down 0.9 %

FLS opened at $61.31 on Wednesday. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $62.22. The business has a 50-day moving average of $54.69 and a two-hundred day moving average of $50.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.47 and a beta of 1.38.

Flowserve (NYSE:FLS) last released its earnings results 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 during 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 revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, research analysts expect that Flowserve Co. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FLS shares. Robert W. Baird lifted their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price objective on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.30.

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.