PNC Financial Services Group Inc. Has $1.33 Million Stock Position in Flowserve Co. (NYSE:FLS)

PNC Financial Services Group Inc. raised its holdings in shares of Flowserve Co. (NYSE:FLS) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 25,735 shares of the industrial products company’s stock after buying an additional 277 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Flowserve were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC grew its position in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve during the 2nd quarter worth approximately $37,100,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Interval Partners LP increased its position in shares of Flowserve by 60.1% during the second quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock valued at $44,593,000 after purchasing an additional 348,107 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Flowserve by 58.3% in the second quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock valued at $1,962,000 after purchasing an additional 15,029 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 1.0 %

NYSE FLS opened at $60.71 on Thursday. The stock’s 50 day simple moving average is $54.98 and its 200 day simple moving average is $50.54. 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 Co. has a one year low of $37.34 and a one year high of $62.22. The firm has a market cap of $7.98 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38.

Flowserve (NYSE:FLS) last released its quarterly earnings results 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 net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on FLS shares. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Mizuho increased their price target 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. TD Cowen lifted their price objective on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group started coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average price target of $61.30.

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.