Flowserve Co. (NYSE:FLS) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Flowserve Co. (NYSE:FLS) by 71.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,587 shares of the industrial products company’s stock after acquiring an additional 24,460 shares during the period. Cerity Partners LLC’s holdings in Flowserve were worth $3,028,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Millennium Management LLC lifted its position in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve in the 2nd quarter worth $37,100,000. AQR Capital Management LLC raised its holdings in shares of Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after acquiring an additional 663,631 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Flowserve by 5,256.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after acquiring an additional 600,866 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Flowserve in the second quarter valued at about $23,911,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.5 %

Shares of NYSE:FLS opened at $61.02 on Friday. The firm’s 50-day moving average is $55.77 and its two-hundred day moving average is $50.76. 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 1 year low of $37.66 and a 1 year high of $62.22. The firm has a market capitalization of $8.02 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 1.46 and a beta of 1.38.

Flowserve (NYSE:FLS) last issued its quarterly earnings results 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 business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business earned $0.50 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts predict that Flowserve Co. will post 2.71 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho increased their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.