Flowserve Co. (NYSE:FLS) Shares Bought by US Bancorp DE

US Bancorp DE raised its stake in Flowserve Co. (NYSE:FLS) by 9.6% during the third quarter, Holdings Channel.com reports. The firm owned 5,433 shares of the industrial products company’s stock after purchasing an additional 475 shares during the quarter. US Bancorp DE’s holdings in Flowserve were worth $281,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares in the last quarter. Earnest Partners LLC grew its position in shares of Flowserve by 4.8% in the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after buying an additional 121,873 shares during the last quarter. Millennium Management LLC raised its stake in Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Flowserve by 3.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after acquiring an additional 83,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Flowserve by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock valued at $108,191,000 after acquiring an additional 169,506 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

Flowserve stock opened at $59.87 on Thursday. The company has a market cap of $7.87 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. Flowserve Co. has a one year low of $37.24 and a one year high of $61.60. The business has a fifty day moving average of $52.45 and a two-hundred day moving average of $49.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. 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 business earned $0.50 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts predict that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLS. Stifel Nicolaus boosted 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. Mizuho increased their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Cowen lifted their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price target for the company. Finally, Bank of America lifted their price objective on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.10.

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.