Paloma Partners Management Co Invests $1.06 Million in Flowserve Co. (NYSE:FLS)

Paloma Partners Management Co purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,430 shares of the industrial products company's stock, valued at approximately $1,056,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KPP Advisory Services LLC lifted its position in Flowserve by 3.2% during the 3rd 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 during the period. PNC Financial Services Group Inc. lifted its holdings in Flowserve by 1.1% in 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 during the period. Crossmark Global Holdings Inc. grew its holdings in Flowserve by 3.9% during the 3rd 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 during the period. Verdence Capital Advisors LLC raised its position in shares of 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 acquiring an additional 342 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FLS shares. 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. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. StockNews.com lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 8th. Royal Bank of Canada raised 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, November 22nd. Finally, Stifel Nicolaus raised their price objective on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.30.

Flowserve Stock Up 1.1 %

Flowserve stock traded up $0.68 during midday trading on Tuesday, reaching $61.54. The stock had a trading volume of 1,346,825 shares, compared to its average volume of 1,201,965. The stock has a market capitalization of $8.09 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.41. The firm's fifty day simple moving average is $56.20 and its 200-day simple moving average is $50.94. 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 1-year low of $38.07 and a 1-year high of $62.22.

Flowserve (NYSE:FLS - Get Free Report) last announced 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). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. As a group, analysts expect that Flowserve Co. will post 2.71 EPS 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.