Quantinno Capital Management LP Acquires 1,080 Shares of Flowserve Co. (NYSE:FLS)

Quantinno Capital Management LP raised its holdings in Flowserve Co. (NYSE:FLS) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,681 shares of the industrial products company’s stock after acquiring an additional 1,080 shares during the quarter. Quantinno Capital Management LP’s holdings in Flowserve were worth $1,172,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Miracle Mile Advisors LLC purchased a new position in Flowserve during the second quarter worth about $210,000. Vaughan Nelson Investment Management L.P. bought a new stake in Flowserve in the second quarter valued at approximately $37,100,000. RBA Wealth Management LLC grew its position in shares of Flowserve by 6.6% in the 2nd quarter. RBA Wealth Management LLC now owns 72,594 shares of the industrial products company’s stock worth $3,492,000 after buying an additional 4,473 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Flowserve by 41.2% in the 2nd quarter. Pallas Capital Advisors LLC now owns 14,840 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 4,330 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Flowserve during the second quarter valued at $187,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 0.5 %

FLS opened at $61.11 on Friday. The firm’s fifty day moving average price is $57.48 and its two-hundred day moving average price is $51.48. 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 fifty-two week low of $38.28 and a fifty-two week high of $62.32. The company has a market capitalization of $8.03 billion, a P/E ratio of 30.25, a P/E/G ratio of 1.46 and a beta of 1.41.

Flowserve (NYSE:FLS) last released 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 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 the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts anticipate that Flowserve Co. will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of 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 raised their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $69.00 in a report on Thursday. Finally, Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $64.40.

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.