Flowserve Co. (NYSE:FLS) Stock Position Lifted by ING Groep NV

ING Groep NV grew its position in Flowserve Co. (NYSE:FLS) by 52.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,000 shares of the industrial products company’s stock after acquiring an additional 20,000 shares during the quarter. ING Groep NV’s holdings in Flowserve were worth $2,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FLS. National Bank of Canada FI boosted its holdings in Flowserve by 541.1% in the first quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock worth $20,616,000 after purchasing an additional 350,889 shares during the period. Millennium Management LLC lifted its position in shares of Flowserve by 155.2% in 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 last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Flowserve in the 2nd quarter valued at about $37,100,000. Wealth Enhancement Advisory Services LLC grew 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 buying an additional 600,866 shares during the last quarter. Finally, Interval Partners LP grew its position in shares of Flowserve by 60.1% during the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock valued at $44,593,000 after buying an additional 348,107 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FLS shares. 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 note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on Flowserve from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

Flowserve Stock Up 0.1 %

FLS stock opened at $59.23 on Friday. The firm’s 50-day moving average is $52.97 and its two-hundred day moving average is $49.93. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38. Flowserve Co. has a 52 week low of $37.24 and a 52 week high of $61.60. The company has a current ratio of 1.99, a quick ratio of 1.39 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 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. On average, analysts forecast 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.