Swiss National Bank Has $13.30 Million Stock Position in Flowserve Co. (NYSE:FLS)

Swiss National Bank lessened its position in shares of Flowserve Co. (NYSE:FLS) by 0.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 257,200 shares of the industrial products company’s stock after selling 900 shares during the quarter. Swiss National Bank’s holdings in Flowserve were worth $13,295,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in 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 purchasing an additional 370 shares during the period. V Square Quantitative Management LLC acquired a new position in Flowserve in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve in the third quarter valued at approximately $29,000. nVerses Capital LLC bought a new position in Flowserve in the second quarter valued at approximately $34,000. Finally, 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 valued at $34,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada upgraded Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $57.00 to $69.00 in a research report on Friday. TD Cowen boosted their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America increased their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.30.

Flowserve Stock Up 1.6 %

Flowserve stock opened at $61.00 on Friday. The company has a 50 day moving average of $54.39 and a 200-day moving average of $50.35. 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 Co. has a twelve month low of $37.34 and a twelve month high of $62.15. The stock has a market capitalization of $8.01 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38.

Flowserve (NYSE:FLS) last announced its earnings results 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 return on equity of 17.10% and a net margin of 5.90%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Company 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.