Janney Montgomery Scott LLC Has $1.83 Million Position in Flowserve Co. (NYSE:FLS)

Janney Montgomery Scott LLC increased its holdings in shares of Flowserve Co. (NYSE:FLS) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,466 shares of the industrial products company’s stock after acquiring an additional 4,351 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Flowserve were worth $1,833,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jacobson & Schmitt Advisors LLC boosted its stake in Flowserve by 4.1% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 235,915 shares of the industrial products company’s stock valued at $12,194,000 after purchasing an additional 9,251 shares during the period. US Bancorp DE boosted its stake in Flowserve by 9.6% in the 3rd quarter. US Bancorp DE now owns 5,433 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 475 shares during the period. Roubaix Capital LLC bought a new stake in Flowserve in the 3rd quarter valued at $4,859,000. New York State Teachers Retirement System boosted its stake in Flowserve by 12.8% in the 3rd quarter. New York State Teachers Retirement System now owns 149,371 shares of the industrial products company’s stock valued at $7,721,000 after purchasing an additional 16,926 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in Flowserve by 23.3% in the 3rd quarter. Pallas Capital Advisors LLC now owns 18,297 shares of the industrial products company’s stock valued at $961,000 after purchasing an additional 3,457 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

Flowserve stock opened at $59.87 on Thursday. 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 Co. has a 52 week low of $37.24 and a 52 week high of $61.60. The stock has a market capitalization of $7.87 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The stock has a fifty day moving average of $52.45 and a 200-day moving average of $49.76.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FLS shares. The Goldman Sachs Group boosted their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Bank of America boosted their price target on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. Finally, Mizuho upped their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target 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.