Natixis Advisors LLC Sells 27,894 Shares of Flowserve Co. (NYSE:FLS)

Natixis Advisors LLC trimmed its position in Flowserve Co. (NYSE:FLS - Free Report) by 39.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,971 shares of the industrial products company's stock after selling 27,894 shares during the quarter. Natixis Advisors LLC's holdings in Flowserve were worth $2,221,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FLS. Toronto Dominion Bank lifted its position in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company's stock valued at $2,127,000 after buying an additional 305 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company's stock valued at $442,000 after acquiring an additional 318 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Flowserve by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company's stock valued at $409,000 after purchasing an additional 342 shares during the last quarter. 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 during the period. Finally, Allworth Financial LP increased its holdings in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 403 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th. Bank of America boosted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada raised 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. Finally, Robert W. Baird upped their price objective on Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Flowserve presently has a consensus rating of "Moderate Buy" and an average price target of $61.30.

Flowserve Price Performance

Shares of NYSE FLS traded up $0.85 during mid-day trading on Monday, reaching $61.85. The company had a trading volume of 1,920,360 shares, compared to its average volume of 1,113,402. Flowserve Co. has a one year low of $37.34 and a one year high of $62.22. The business's 50-day simple moving average is $54.39 and its 200 day simple 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. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.47 and a beta of 1.38.

Flowserve (NYSE:FLS - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, research analysts predict that Flowserve Co. will post 2.71 earnings per share 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.