Fisher Asset Management LLC Boosts Stock Position in Flowserve Co. (NYSE:FLS)

Fisher Asset Management LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,955 shares of the industrial products company’s stock after purchasing an additional 21,889 shares during the quarter. Fisher Asset Management LLC owned 0.44% of Flowserve worth $29,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FLS. KPP Advisory Services LLC grew its position in Flowserve by 3.2% during the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Flowserve by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock valued at $1,330,000 after acquiring an additional 277 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Flowserve by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 318 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Flowserve by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 342 shares during the period. Finally, Signaturefd LLC lifted its stake in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on FLS. Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Mizuho lifted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Stock Down 0.9 %

Shares of NYSE:FLS opened at $61.31 on Wednesday. The firm has a fifty day moving average price of $54.69 and a two-hundred day moving average price of $50.46. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.47 and a beta of 1.38. 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.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Analysts anticipate that Flowserve Co. will post 2.71 EPS for the current fiscal year.

About Flowserve

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.