Flowserve Co. (NYSE:FLS) Stock Holdings Trimmed by Atria Investments Inc

Atria Investments Inc lessened its stake in shares of Flowserve Co. (NYSE:FLS) by 13.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,845 shares of the industrial products company’s stock after selling 1,257 shares during the quarter. Atria Investments Inc’s holdings in Flowserve were worth $406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC lifted its position in shares of Flowserve by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 342 shares during the last quarter. ABLE Financial Group LLC grew its position in Flowserve by 5.5% in the third quarter. ABLE Financial Group LLC now owns 16,965 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 878 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Flowserve during the third quarter worth $111,000. Janney Montgomery Scott LLC raised its stake in shares of Flowserve by 14.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,466 shares of the industrial products company’s stock valued at $1,833,000 after acquiring an additional 4,351 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC raised its position in shares of Flowserve by 4.1% in the third 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. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.3 %

FLS opened at $60.06 on Friday. 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 stock has a market capitalization of $7.89 billion, a P/E ratio of 29.73, a P/E/G 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. The firm’s fifty day simple moving average is $53.83 and its 200 day simple moving average is $50.19.

Flowserve (NYSE:FLS) last issued its quarterly 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 business 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%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. As a group, research analysts anticipate that Flowserve Co. will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FLS shares. Robert W. Baird increased their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. Mizuho upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on Flowserve from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

About Flowserve

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.