8,363 Shares in Flowserve Co. (NYSE:FLS) Bought by Hilltop Holdings Inc.

Hilltop Holdings Inc. acquired a new position in Flowserve Co. (NYSE:FLS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,363 shares of the industrial products company's stock, valued at approximately $432,000.

Several other institutional investors have also recently made changes to their positions in FLS. Millennium Management LLC lifted its stake in shares of 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 period. Vaughan Nelson Investment Management L.P. purchased a new stake in Flowserve in the 2nd quarter worth approximately $37,100,000. AQR Capital Management LLC increased its holdings in Flowserve by 31.8% in the 2nd 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Flowserve by 5,256.0% in 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 acquiring an additional 600,866 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in Flowserve in the 2nd quarter worth approximately $23,911,000. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.88 during midday trading on Friday, reaching $60.83. 1,768,657 shares of the stock traded hands, compared to its average volume of 1,133,962. 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 $7.99 billion, a PE ratio of 30.11, a P/E/G ratio of 1.49 and a beta of 1.41. Flowserve Co. has a one year low of $38.07 and a one year high of $62.32. The company's 50 day moving average is $56.77 and its 200 day moving average is $51.17.

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 analysts' consensus estimates of $0.67 by ($0.05). The firm 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%. The firm's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Flowserve from a "sector perform" rating to an "outperform" rating and increased their target price 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 report on Friday, October 18th. They issued a "buy" rating and a $65.00 target price for the company. Bank of America increased their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.30.

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.