Vaughan Nelson Investment Management L.P. Has $17.28 Million Stock Position in Flowserve Co. (NYSE:FLS)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 56.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,310 shares of the industrial products company's stock after selling 437,006 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.25% of Flowserve worth $17,280,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC boosted its holdings 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 in the last quarter. V Square Quantitative Management LLC bought a new position in Flowserve in the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve during the third quarter worth about $29,000. nVerses Capital LLC bought a new position in shares of Flowserve in the second quarter worth about $34,000. Finally, Allworth Financial LP boosted its stake in shares of Flowserve by 159.9% in 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 in the last quarter. Institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 0.6 %

Shares of NYSE:FLS traded up $0.33 during midday trading on Monday, reaching $59.56. The company's stock had a trading volume of 932,306 shares, compared to its average volume of 1,097,089. Flowserve Co. has a fifty-two week low of $37.24 and a fifty-two week high of $61.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The firm has a 50 day moving average price of $52.97 and a two-hundred day moving average price of $49.95. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.42 and a beta of 1.38.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm's revenue was up 3.5% compared to the same quarter last year. As a group, analysts forecast that Flowserve Co. will post 2.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLS. StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th. Robert W. Baird raised 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. Stifel Nicolaus upped their target price on Flowserve from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Bank of America lifted their price target on Flowserve from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on Flowserve from $46.00 to $52.00 and gave the company a "sell" rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.10.

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.