Atom Investors LP Invests $3.68 Million in Flowserve Co. (NYSE:FLS)

Atom Investors LP purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 71,198 shares of the industrial products company's stock, valued at approximately $3,680,000. Atom Investors LP owned approximately 0.05% of Flowserve as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. True Wealth Design LLC purchased a new stake in Flowserve in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Flowserve during the 3rd quarter valued at $29,000. Signaturefd LLC grew its position in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock worth $27,000 after acquiring an additional 370 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Analysts Set New Price Targets

FLS has been the subject of several research analyst reports. Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 price target for the company. Bank of America boosted their target price on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research 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 company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Mizuho lifted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.30.

Flowserve Trading Down 0.3 %

NYSE:FLS traded down $0.16 during mid-day trading on Monday, reaching $60.86. 648,261 shares of the company's stock traded hands, compared to its average volume of 1,105,133. The company has a 50 day moving average price of $55.77 and a 200-day moving average price of $50.78. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a 12-month low of $38.07 and a 12-month high of $62.22.

Flowserve (NYSE:FLS - Get Free Report) last announced 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 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 was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. On average, sell-side analysts predict that Flowserve Co. will post 2.71 earnings per share for the current year.

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.