Daiwa Securities Group Inc. Grows Stock Holdings in Flowserve Co. (NYSE:FLS)

Daiwa Securities Group Inc. lifted its position in shares of Flowserve Co. (NYSE:FLS) by 89.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,600 shares of the industrial products company’s stock after purchasing an additional 1,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Flowserve were worth $186,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Signaturefd LLC lifted its position in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Flowserve in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve during the third quarter valued at approximately $29,000. nVerses Capital LLC purchased a new stake in Flowserve in the second quarter worth $34,000. Finally, Allworth Financial LP raised its holdings in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FLS has been the topic of a number of research reports. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Bank of America raised their target price on shares of 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 target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.30.

Flowserve Price Performance

NYSE FLS opened at $61.02 on Monday. Flowserve Co. has a 1-year low of $37.66 and a 1-year high of $62.22. The business’s fifty day moving average price is $55.77 and its 200-day moving average price is $50.78. 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 stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.47 and a beta of 1.38.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Flowserve Co. will post 2.71 earnings per share for the current 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.