Massachusetts Financial Services Co. MA Has $86.06 Million Holdings in Flowserve Co. (NYSE:FLS)

Massachusetts Financial Services Co. MA grew its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 34.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,664,825 shares of the industrial products company's stock after purchasing an additional 422,141 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.27% of Flowserve worth $86,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. KPP Advisory Services LLC boosted its holdings in shares of 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 acquiring an additional 215 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake 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 valued at $1,330,000 after buying an additional 277 shares in the last quarter. Toronto Dominion Bank grew its holdings in Flowserve by 0.7% during the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company's stock worth $2,127,000 after acquiring an additional 305 shares during the period. Crossmark Global Holdings Inc. raised its position 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 acquiring an additional 318 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Flowserve by 4.5% in the 3rd 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 during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Up 1.6 %

Shares of FLS traded up $0.95 during trading hours on Friday, hitting $61.00. 3,080,868 shares of the company were exchanged, compared to its average volume of 1,415,479. The firm's 50 day moving average is $54.39 and its 200-day moving average is $50.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $62.15. The company has a market cap of $8.01 billion, a PE ratio of 30.20, a PEG ratio of 1.45 and a beta of 1.38.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company 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 company earned $0.50 EPS. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $57.00 to $69.00 in a report on Friday. The Goldman Sachs Group upped their price target on Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research report on Thursday, October 10th. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given 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 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.