UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,086 shares of the industrial products company's stock after purchasing an additional 14,452 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Flowserve worth $19,026,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in FLS. Signaturefd LLC increased its stake in Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock worth $27,000 after acquiring an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Flowserve in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve in the 3rd quarter worth approximately $29,000. nVerses Capital LLC bought a new stake in Flowserve in the 2nd quarter worth approximately $34,000. Finally, Allworth Financial LP increased its position in shares of Flowserve by 159.9% during the 3rd 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 owned by hedge funds and other institutional investors.
Flowserve Stock Down 1.4 %
Shares of NYSE FLS traded down $0.88 during mid-day trading on Friday, reaching $60.83. 1,733,752 shares of the company were exchanged, compared to its average volume of 1,107,251. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.48 and a beta of 1.41. Flowserve Co. has a 1 year low of $38.07 and a 1 year high of $62.32. The firm has a 50-day moving average of $56.77 and a 200 day moving average of $51.16.
Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. On average, research analysts expect that Flowserve Co. will post 2.71 earnings per share for the current year.
Analysts Set New Price Targets
FLS has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research report on Thursday, October 10th. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Royal Bank of Canada raised Flowserve from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They issued a "buy" rating and a $65.00 price objective on the stock. One research 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.30.
View Our Latest Stock Analysis on FLS
About Flowserve
(
Free Report)
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.
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