US Bancorp DE Boosts Stock Position in Flowserve Co. (NYSE:FLS)

US Bancorp DE grew its holdings in Flowserve Co. (NYSE:FLS) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,433 shares of the industrial products company’s stock after buying an additional 475 shares during the quarter. US Bancorp DE’s holdings in Flowserve were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. increased its position in shares of Flowserve by 6.5% during the first quarter. Sei Investments Co. now owns 151,686 shares of the industrial products company’s stock worth $6,929,000 after purchasing an additional 9,204 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Flowserve during the first quarter worth approximately $149,000. State Board of Administration of Florida Retirement System increased its position in shares of Flowserve by 4.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 138,370 shares of the industrial products company’s stock worth $6,321,000 after purchasing an additional 6,141 shares in the last quarter. Twin Tree Management LP increased its position in shares of Flowserve by 36.9% during the first quarter. Twin Tree Management LP now owns 30,634 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 8,250 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in shares of Flowserve by 4.1% during the first quarter. Tocqueville Asset Management L.P. now owns 35,480 shares of the industrial products company’s stock worth $1,621,000 after purchasing an additional 1,400 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

FLS opened at $59.87 on Thursday. The stock’s 50-day moving average price is $52.45 and its 200 day moving average price is $49.76. Flowserve Co. has a 12-month low of $37.24 and a 12-month 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. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.45 and a beta of 1.38.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $0.50 EPS. Flowserve’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Flowserve Co. will post 2.72 earnings per share for the current year.

Wall Street Analyst Weigh In

FLS has been the subject of several analyst reports. Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. TD Cowen upped 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 upped their target price on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird upped their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.10.

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.