Flowserve Co. (NYSE:FLS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Flowserve Co. (NYSE:FLS - Free Report) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,201,409 shares of the industrial products company's stock after selling 346,514 shares during the quarter. Wellington Management Group LLP owned 4.72% of Flowserve worth $320,551,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FLS. Taika Capital LP lifted its stake in shares of Flowserve by 39.9% during the 3rd quarter. Taika Capital LP now owns 125,133 shares of the industrial products company's stock worth $6,468,000 after acquiring an additional 35,693 shares during the last quarter. State Street Corp lifted its position in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Flowserve by 14.0% during the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company's stock valued at $12,619,000 after purchasing an additional 29,979 shares during the period. Quadrature Capital Ltd grew its holdings in shares of Flowserve by 133.5% in the third quarter. Quadrature Capital Ltd now owns 13,664 shares of the industrial products company's stock worth $707,000 after purchasing an additional 7,813 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Flowserve by 5.0% in the 3rd quarter. Quantinno Capital Management LP now owns 22,681 shares of the industrial products company's stock worth $1,172,000 after buying an additional 1,080 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Down 1.4 %

FLS traded down $0.88 on Friday, hitting $60.83. The company had a trading volume of 1,768,657 shares, compared to its average volume of 1,133,962. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.49 and a beta of 1.41. 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 stock has a fifty day moving average price of $56.77 and a 200-day moving average price of $51.17. Flowserve Co. has a 12-month low of $38.07 and a 12-month high of $62.32.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm 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 firm earned $0.50 EPS. The firm's quarterly revenue was up 3.5% on a year-over-year basis. Analysts predict that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on FLS. Robert W. Baird boosted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on Flowserve in a report on Friday, October 18th. They issued a "buy" rating and a $65.00 price target for the company. The Goldman Sachs Group raised their price objective on Flowserve from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Thursday, October 10th. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, Bank of America raised 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.30.

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.