Fisher Asset Management LLC Has $29.98 Million Position in Flowserve Co. (NYSE:FLS)

Fisher Asset Management LLC increased its stake in Flowserve Co. (NYSE:FLS - Free Report) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 579,955 shares of the industrial products company's stock after purchasing an additional 21,889 shares during the period. Fisher Asset Management LLC owned approximately 0.44% of Flowserve worth $29,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock worth $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Flowserve during the 2nd quarter worth approximately $37,100,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Flowserve by 5,256.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company's stock valued at $29,452,000 after purchasing an additional 600,866 shares during the last quarter. Interval Partners LP lifted its position in shares of Flowserve by 60.1% in the second quarter. Interval Partners LP now owns 927,087 shares of the industrial products company's stock worth $44,593,000 after purchasing an additional 348,107 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Flowserve by 58.3% during the second quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company's stock worth $1,962,000 after purchasing an additional 15,029 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

FLS has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised Flowserve from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Stifel Nicolaus upped their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. TD Cowen lifted their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group started coverage on shares of Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.30.

Flowserve Price Performance

FLS stock traded down $0.61 during mid-day trading on Wednesday, hitting $60.70. The stock had a trading volume of 270,437 shares, compared to its average volume of 1,108,859. The firm has a fifty day simple moving average of $54.98 and a 200 day simple moving average of $50.54. The firm has a market capitalization of $7.97 billion, a P/E ratio of 30.35, a P/E/G ratio of 1.49 and a beta of 1.38. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $62.22.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during 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 business's revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. As a group, research analysts forecast that Flowserve Co. will post 2.71 EPS for the current year.

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.