ING Groep NV Grows Stock Position in Flowserve Co. (NYSE:FLS)

ING Groep NV grew its stake in Flowserve Co. (NYSE:FLS - Free Report) by 52.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,000 shares of the industrial products company's stock after acquiring an additional 20,000 shares during the quarter. ING Groep NV's holdings in Flowserve were worth $2,998,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Flowserve during the third quarter valued at $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve in the third quarter worth about $29,000. Signaturefd LLC boosted its position in shares of 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 purchasing an additional 370 shares during the period. Allworth Financial LP raised 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 valued at $34,000 after acquiring an additional 403 shares during the period. Finally, nVerses Capital LLC purchased a new position in Flowserve in the 2nd quarter worth approximately $34,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

FLS stock traded up $0.04 during midday trading on Friday, reaching $59.23. The stock had a trading volume of 676,296 shares, compared to its average volume of 1,345,157. Flowserve Co. has a 52-week low of $37.24 and a 52-week high of $61.60. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. The company's fifty day simple moving average is $52.97 and its 200 day simple moving average is $49.95. 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 (NYSE:FLS - Get Free Report) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the business earned $0.50 earnings per share. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird increased their price target on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Mizuho raised their price target on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective 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. Royal Bank of Canada raised their price target on shares of Flowserve from $55.00 to $57.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Flowserve presently has an average rating of "Moderate Buy" and an average target price of $60.10.

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.