Flowserve Co. (NYSE:FLS) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in shares of Flowserve Co. (NYSE:FLS) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,735 shares of the industrial products company’s stock after buying an additional 277 shares during the period. PNC Financial Services Group Inc.’s holdings in Flowserve were worth $1,330,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Flowserve in the third quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the third quarter worth $29,000. Signaturefd LLC grew its position in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares during the last quarter. Allworth Financial LP raised its position in shares of Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Flowserve in the second quarter worth $34,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock opened at $60.71 on Thursday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.49 and a beta of 1.38. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $62.22. The firm has a 50 day moving average of $54.98 and a two-hundred day moving average of $50.54. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last announced its 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 return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

FLS has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target for the company. 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 report on Thursday, October 10th. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, Bank of America increased their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One investment 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.com, Flowserve has an average rating of “Moderate Buy” and a consensus target price 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.