Cerity Partners LLC Has $3.03 Million Position in Flowserve Co. (NYSE:FLS)

Cerity Partners LLC boosted its stake in Flowserve Co. (NYSE:FLS - Free Report) by 71.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,587 shares of the industrial products company's stock after buying an additional 24,460 shares during the quarter. Cerity Partners LLC's holdings in Flowserve were worth $3,028,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. KPP Advisory Services LLC grew its stake in Flowserve by 3.2% in the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock valued at $364,000 after purchasing an additional 215 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock valued at $1,330,000 after buying an additional 277 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Flowserve by 3.9% in the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock worth $442,000 after buying an additional 318 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Flowserve by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company's stock valued at $409,000 after acquiring an additional 342 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 370 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLS. Robert W. Baird raised their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. The Goldman Sachs Group upped their target price on Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a research report on Thursday, October 10th. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Flowserve presently has a consensus rating of "Moderate Buy" and an average target price of $61.30.

Flowserve Stock Performance

FLS stock traded up $0.29 during midday trading on Friday, hitting $61.02. The stock had a trading volume of 336,981 shares, compared to its average volume of 1,266,808. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.47 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. The stock has a 50-day simple moving average of $55.77 and a 200 day simple moving average of $50.77. Flowserve Co. has a 52 week low of $37.66 and a 52 week high of $62.22.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $0.50 earnings per share. Flowserve's revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts anticipate 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.