Flowserve Co. (NYSE:FLS) Stock Position Increased by KBC Group NV

KBC Group NV boosted its position in shares of Flowserve Co. (NYSE:FLS) by 17.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,432 shares of the industrial products company’s stock after buying an additional 522 shares during the period. KBC Group NV’s holdings in Flowserve were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Flowserve in the third quarter worth about $29,000. Signaturefd LLC increased its position in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. Allworth Financial LP lifted its position 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 acquiring an additional 403 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Flowserve in the 2nd quarter valued at approximately $34,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLS has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.10.

Flowserve Trading Down 0.3 %

Flowserve stock opened at $59.89 on Thursday. Flowserve Co. has a one year low of $37.24 and a one year high of $61.60. The company’s fifty day moving average price is $53.83 and its two-hundred day moving average price is $50.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.42 and a beta of 1.38.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts forecast that Flowserve Co. will post 2.72 earnings per share 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.