Fmr LLC Raises Position in Flowserve Co. (NYSE:FLS)

FMR LLC boosted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 893,200 shares of the industrial products company's stock after purchasing an additional 120,396 shares during the quarter. FMR LLC owned approximately 0.68% of Flowserve worth $46,170,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. KPP Advisory Services LLC boosted its position in Flowserve by 3.2% during the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company's stock worth $364,000 after purchasing an additional 215 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Flowserve by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company's stock worth $1,330,000 after purchasing an additional 277 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Flowserve by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock worth $442,000 after purchasing an additional 318 shares in the last quarter. Verdence Capital Advisors LLC boosted 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 worth $409,000 after purchasing an additional 342 shares in the last quarter. Finally, Signaturefd LLC boosted its position 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 purchasing an additional 370 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the topic of several recent research reports. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Jefferies Financial Group initiated coverage on Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 price objective on the stock. Robert W. Baird upped their price objective on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus upped their price objective on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.30.

Flowserve Trading Down 1.4 %

Flowserve stock traded down $0.88 during trading on Friday, hitting $60.83. The company's stock had a trading volume of 1,768,657 shares, compared to its average volume of 1,133,962. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.49 and a beta of 1.41. 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's fifty day moving average is $56.77 and its 200 day moving average is $51.17. Flowserve Co. has a 1-year low of $38.07 and a 1-year high of $62.32.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, equities research analysts predict 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.