Point72 DIFC Ltd Acquires Shares of 17,145 Flowserve Co. (NYSE:FLS)

Point72 DIFC Ltd acquired a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,145 shares of the industrial products company's stock, valued at approximately $886,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock worth $47,000 after purchasing an additional 616 shares during the period. CWM LLC grew its holdings in Flowserve by 59.0% during the 2nd quarter. CWM LLC now owns 21,045 shares of the industrial products company's stock worth $1,012,000 after acquiring an additional 7,806 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Flowserve by 69.9% in the 2nd quarter. SG Americas Securities LLC now owns 81,109 shares of the industrial products company's stock valued at $3,901,000 after purchasing an additional 33,380 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company's stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of Flowserve by 53.2% during the 2nd quarter. 180 Wealth Advisors LLC now owns 8,329 shares of the industrial products company's stock worth $401,000 after purchasing an additional 2,892 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FLS shares. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Mizuho increased their price objective on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 target price for the company. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Flowserve has an average rating of "Moderate Buy" and a consensus target price of $61.30.

Flowserve Stock Performance

FLS stock traded down $0.88 on Friday, hitting $60.83. The company's stock had a trading volume of 1,733,752 shares, compared to its average volume of 1,107,251. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. The firm has a 50 day moving average of $56.77 and a two-hundred day moving average of $51.16. 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 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 earnings results 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). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Flowserve's quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts predict that Flowserve Co. will post 2.71 EPS for the current fiscal 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.