Flowserve Co. (NYSE:FLS) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its position in Flowserve Co. (NYSE:FLS - Free Report) by 1,671.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,509 shares of the industrial products company's stock after acquiring an additional 40,109 shares during the period. Quantbot Technologies LP's holdings in Flowserve were worth $2,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its position 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 last quarter. V Square Quantitative Management LLC acquired a new position in Flowserve during the 3rd quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Flowserve in the third quarter worth $29,000. nVerses Capital LLC acquired a new stake in shares of Flowserve during the second quarter worth $34,000. Finally, Allworth Financial LP grew its holdings in shares of Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock valued at $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLS has been the topic of several recent research reports. Bank of America upped their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Royal Bank of Canada upgraded shares of Flowserve from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their price target on Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Thursday, October 10th. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.30.

Flowserve Stock Performance

FLS traded up $0.30 during trading on Friday, hitting $61.03. 336,976 shares of the stock were exchanged, compared to its average volume of 1,107,112. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 1-year low of $37.66 and a 1-year high of $62.22. The stock has a fifty day moving average price of $55.50 and a two-hundred day moving average price of $50.68. The firm has a market capitalization of $8.02 billion, a P/E ratio of 30.21, a PEG ratio of 1.46 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 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. As a group, sell-side analysts predict that Flowserve Co. will post 2.71 earnings per share 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.