Flowserve Co. (NYSE:FLS) Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Flowserve Co. (NYSE:FLS) by 46.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,864 shares of the industrial products company’s stock after buying an additional 58,769 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of Flowserve worth $9,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. Signaturefd LLC increased its holdings in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Flowserve during the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Flowserve in the 3rd quarter worth about $29,000. nVerses Capital LLC bought a new stake in shares of Flowserve during the 2nd quarter valued at about $34,000. Finally, Allworth Financial LP raised its stake in Flowserve by 159.9% during the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of several recent research reports. Jefferies Financial Group began coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. Robert W. Baird boosted their price target on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Stock Performance

Shares of FLS stock opened at $60.06 on Friday. The business has a 50 day simple moving average of $53.83 and a 200 day simple moving average of $50.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38. Flowserve Co. has a 12-month low of $37.24 and a 12-month high of $61.60.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Flowserve Co. will post 2.72 EPS for the current year.

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.