FDx Advisors Inc. purchased a new position in shares of Flowserve Corp (NYSE:FLS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,920 shares of the industrial products company’s stock, valued at approximately $269,000.

A number of other large investors have also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. lifted its stake in Flowserve by 4.5% during the second quarter. EdgePoint Investment Group Inc. now owns 14,533,419 shares of the industrial products company’s stock worth $587,150,000 after purchasing an additional 624,832 shares in the last quarter. FMR LLC increased its position in shares of Flowserve by 0.5% during the second quarter. FMR LLC now owns 9,337,955 shares of the industrial products company’s stock worth $377,253,000 after acquiring an additional 48,606 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Flowserve by 0.9% during the second quarter. Gamco Investors INC. ET AL now owns 2,818,792 shares of the industrial products company’s stock worth $113,879,000 after acquiring an additional 25,172 shares during the period. Bank of America Corp DE increased its position in shares of Flowserve by 42.9% during the second quarter. Bank of America Corp DE now owns 2,757,648 shares of the industrial products company’s stock worth $111,409,000 after acquiring an additional 827,459 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Flowserve by 0.7% during the third quarter. Gabelli Funds LLC now owns 1,659,700 shares of the industrial products company’s stock worth $90,769,000 after acquiring an additional 11,000 shares during the period.

A number of analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Flowserve from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday, November 13th. Robert W. Baird cut their price objective on Flowserve from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, November 12th. Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a research report on Sunday, November 11th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Flowserve in a research report on Thursday, November 8th. Finally, Royal Bank of Canada upped their price objective on Flowserve to $50.00 and gave the stock an “average” rating in a research report on Friday, November 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.00.

Flowserve stock opened at $45.40 on Friday. The firm has a market cap of $6.02 billion, a PE ratio of 31.08, a P/E/G ratio of 1.53 and a beta of 1.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.60 and a current ratio of 2.24. Flowserve Corp has a twelve month low of $38.79 and a twelve month high of $56.86.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. The firm had revenue of $952.72 million for the quarter, compared to analyst estimates of $925.33 million. Flowserve had a positive return on equity of 11.66% and a negative net margin of 1.27%. Flowserve’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts predict that Flowserve Corp will post 1.74 EPS for the current year.

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Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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