Y Intercept Hong Kong Ltd Increases Holdings in Flowserve Co. (NYSE:FLS)

Y Intercept Hong Kong Ltd lifted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 317.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,495 shares of the industrial products company's stock after purchasing an additional 27,761 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Flowserve were worth $1,886,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Millennium Management LLC increased its holdings in Flowserve by 155.2% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Flowserve during the second quarter worth $37,100,000. AQR Capital Management LLC raised its position 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 valued at $132,221,000 after buying an additional 663,631 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Flowserve by 197.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company's stock valued at $47,207,000 after acquiring an additional 606,416 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Flowserve by 5,256.0% during 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 during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America increased their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Citigroup increased their price objective on shares of Flowserve from $65.00 to $73.00 and gave the company a "buy" rating in a research note on Monday. Stifel Nicolaus boosted their target price on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.70.

Flowserve Stock Performance

NYSE:FLS traded up $0.84 during trading hours on Wednesday, reaching $61.40. The stock had a trading volume of 1,180,834 shares, compared to its average volume of 1,107,194. Flowserve Co. has a 12-month low of $38.28 and a 12-month high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a 50 day simple moving average of $57.30 and a 200 day simple moving average of $51.41. The stock has a market cap of $8.07 billion, a P/E ratio of 30.39, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41.

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 for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company's revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. On average, research analysts forecast that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve 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.