Flowserve Co. (NYSE:FLS) Shares Acquired by ING Groep NV

ING Groep NV boosted its holdings in Flowserve Co. (NYSE:FLS) by 52.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 58,000 shares of the industrial products company’s stock after buying an additional 20,000 shares during the quarter. ING Groep NV’s holdings in Flowserve were worth $2,998,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Flowserve by 31.8% in 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 last quarter. Earnest Partners LLC increased its stake in Flowserve by 4.8% in the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock worth $128,841,000 after purchasing an additional 121,873 shares in the last quarter. Millennium Management LLC raised its holdings 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 buying an additional 1,596,429 shares during the period. Thrivent Financial for Lutherans lifted its stake in Flowserve by 3.4% during 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 buying an additional 83,868 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $108,191,000 after buying an additional 169,506 shares during the period. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FLS shares. Royal Bank of Canada boosted their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America raised their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $60.10.

Flowserve Trading Up 0.1 %

Shares of NYSE FLS opened at $59.23 on Friday. The business has a 50 day simple moving average of $52.97 and a 200 day simple moving average of $49.93. Flowserve Co. has a 52 week low of $37.24 and a 52 week high of $61.60. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.44 and a beta of 1.38. 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 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). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. On average, research analysts predict that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

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.