State Street Corp Has $201.69 Million Stake in Flowserve Co. (NYSE:FLS)

State Street Corp grew its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,886,111 shares of the industrial products company's stock after acquiring an additional 37,132 shares during the quarter. State Street Corp owned about 2.96% of Flowserve worth $201,685,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company's stock worth $132,221,000 after purchasing an additional 663,631 shares in the last quarter. Earnest Partners LLC lifted its position in Flowserve by 4.8% during the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company's stock worth $128,841,000 after acquiring an additional 121,873 shares in the last quarter. Millennium Management LLC lifted its position in Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company's stock worth $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock valued at $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Flowserve by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company's stock valued at $108,191,000 after acquiring an additional 169,506 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $55.00 to $69.00 in a research note on Thursday. Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 price objective on the stock. Finally, Mizuho boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and a consensus price target of $64.40.

Flowserve Stock Performance

Shares of Flowserve stock traded down $0.43 during midday trading on Friday, hitting $60.69. The company had a trading volume of 185,449 shares, compared to its average volume of 1,103,249. The stock has a market cap of $7.97 billion, a PE ratio of 30.25, a P/E/G ratio of 1.48 and a beta of 1.41. Flowserve Co. has a 1-year low of $39.20 and a 1-year high of $62.32. The business's 50 day simple moving average is $57.48 and its two-hundred day simple moving average is $51.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

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). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict 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.