Flowserve Co. (NYSE:FLS) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Flowserve Co. (NYSE:FLS) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,755,881 shares of the industrial products company’s stock after buying an additional 4,414 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Flowserve were worth $90,761,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position 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 during the period. Earnest Partners LLC grew its stake in shares of Flowserve by 4.8% in the second 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 in the last quarter. Millennium Management LLC lifted its position 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 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after acquiring an additional 44,039 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Flowserve by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after acquiring an additional 169,506 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FLS shares. Bank of America boosted their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho upped 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. The Goldman Sachs Group lifted their target price on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target for the company. Finally, TD Cowen raised their price target on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Stock Down 0.9 %

FLS stock opened at $61.31 on Wednesday. The firm 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. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $62.22. 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 debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.50 EPS. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts predict that Flowserve Co. will post 2.71 EPS for the current 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.