Centiva Capital LP Invests $1.79 Million in Flowserve Co. (NYSE:FLS)

Centiva Capital LP acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,613 shares of the industrial products company's stock, valued at approximately $1,789,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FLS. KPP Advisory Services LLC increased its holdings in Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock valued at $364,000 after buying an additional 215 shares during the period. PNC Financial Services Group Inc. lifted its holdings 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 valued at $1,330,000 after purchasing an additional 277 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Flowserve by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock valued at $442,000 after buying an additional 318 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Flowserve by 4.5% in 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 last quarter. Finally, Signaturefd LLC lifted its stake in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 0.7 %

Shares of FLS stock traded up $0.45 on Wednesday, hitting $62.00. The company had a trading volume of 1,014,334 shares, compared to its average volume of 1,105,778. The stock's 50-day moving average is $56.40 and its two-hundred day moving average is $51.01. Flowserve Co. has a twelve month low of $38.07 and a twelve month high of $62.22. The firm has a market cap of $8.14 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

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

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 price objective on the stock. Bank of America raised their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus lifted their target price on shares of Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.