Entropy Technologies LP Invests $1.28 Million in Flowserve Co. (NYSE:FLS)

Entropy Technologies LP purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 24,666 shares of the industrial products company's stock, valued at approximately $1,275,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Flowserve by 185.9% during 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. V Square Quantitative Management LLC bought a new stake in shares of Flowserve during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the 3rd quarter valued at approximately $29,000. nVerses Capital LLC bought a new position in shares of Flowserve in the second quarter valued at $34,000. Finally, Allworth Financial LP increased its holdings in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLS. Bank of America increased their price target 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. TD Cowen lifted their price target on Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. StockNews.com lowered Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Flowserve from $55.00 to $57.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.10.

Flowserve Stock Performance

FLS stock traded down $0.73 during trading hours on Thursday, hitting $59.17. 698,318 shares of the stock were exchanged, compared to its average volume of 1,099,738. Flowserve Co. has a 12 month low of $37.24 and a 12 month high of $61.60. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $7.77 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.45 and a beta of 1.38. The company has a 50-day simple moving average of $52.70 and a two-hundred day simple moving average of $49.82.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly 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 return on equity of 17.10% and a net margin of 5.90%. Flowserve's revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. On average, analysts forecast that Flowserve Co. will post 2.72 earnings per share for the current fiscal 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.