Natixis Advisors LLC Has $2.22 Million Holdings in Flowserve Co. (NYSE:FLS)

Natixis Advisors LLC lowered its stake in Flowserve Co. (NYSE:FLS) by 39.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,971 shares of the industrial products company’s stock after selling 27,894 shares during the quarter. Natixis Advisors LLC’s holdings in Flowserve were worth $2,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in Flowserve by 0.7% during the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 305 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Flowserve by 3.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 318 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Flowserve by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock worth $409,000 after buying an additional 342 shares during the period. Signaturefd LLC lifted its stake in Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of 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. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

NYSE FLS opened at $61.00 on Monday. The firm has a 50-day moving average price of $54.39 and a two-hundred day moving average price of $50.37. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $62.15. The company has a market capitalization of $8.01 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.45 and a beta of 1.38. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

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). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.50 EPS. Analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group began coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.30.

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.