Quantbot Technologies LP acquired a new stake in shares of Flowserve Corporation (NYSE:FLS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,984 shares of the industrial products company’s stock, valued at approximately $936,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLS. First Eagle Investment Management LLC raised its position in shares of Flowserve by 2.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 13,059,375 shares of the industrial products company’s stock worth $556,199,000 after purchasing an additional 276,377 shares during the period. Vanguard Group Inc. raised its position in shares of Flowserve by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,843,068 shares of the industrial products company’s stock worth $596,303,000 after purchasing an additional 272,324 shares during the period. BlackRock Inc. raised its position in shares of Flowserve by 2.8% during the 2nd quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock worth $380,483,000 after purchasing an additional 222,016 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Flowserve by 22.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after purchasing an additional 1,146,084 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in Flowserve by 9.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,816,277 shares of the industrial products company’s stock valued at $119,945,000 after acquiring an additional 236,752 shares during the period.
A number of brokerages have issued reports on FLS. Susquehanna Bancshares raised Flowserve from a “neutral” rating to a “positive” rating and decreased their price target for the company from $50.00 to $46.00 in a research note on Tuesday, August 15th. Cowen reaffirmed a “buy” rating and set a $50.00 price target on shares of Flowserve in a research note on Thursday, August 10th. KeyCorp reissued a “hold” rating on shares of Flowserve in a research note on Thursday, September 28th. Zacks Investment Research lowered Flowserve from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, UBS raised Flowserve from a “neutral” rating to a “positive” rating in a research note on Tuesday, August 15th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Flowserve has an average rating of “Hold” and an average price target of $44.27.
Flowserve Corporation (NYSE:FLS) traded up $0.84 during midday trading on Thursday, reaching $42.65. The company’s stock had a trading volume of 986,320 shares, compared to its average volume of 1,412,433. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $5,570.00, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.40 and a beta of 1.53.
Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. analysts forecast that Flowserve Corporation will post 1.38 earnings per share for the current fiscal year.
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Flowserve Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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