93,050 Shares in Flowserve Co. (NYSE:FLS) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in shares of Flowserve Co. (NYSE:FLS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 93,050 shares of the industrial products company’s stock, valued at approximately $4,780,000.

A number of other large investors also recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after acquiring an additional 663,631 shares during the last quarter. Earnest Partners LLC increased its position in Flowserve by 4.8% in the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after purchasing an additional 121,873 shares during the last quarter. Millennium Management LLC increased its position 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 worth $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Flowserve by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after purchasing an additional 44,039 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Flowserve by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock valued at $108,191,000 after buying an additional 169,506 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group initiated coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective on the stock. The Goldman Sachs Group raised their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus raised 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. Finally, Mizuho upped their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Stock Down 0.3 %

FLS stock opened at $60.85 on Tuesday. 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 company has a 50-day moving average of $56.01 and a two-hundred day moving average of $50.85. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.38. Flowserve Co. has a 52-week low of $38.07 and a 52-week high of $62.22.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 the consensus estimate 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 company earned $0.50 EPS. As a group, equities research analysts anticipate that Flowserve Co. will post 2.71 EPS for the current 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.