Flowserve Co. (NYSE:FLS) Shares Sold by Pier Capital LLC

Pier Capital LLC lowered its holdings in Flowserve Co. (NYSE:FLS) by 24.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,787 shares of the industrial products company’s stock after selling 49,480 shares during the period. Pier Capital LLC owned about 0.12% of Flowserve worth $7,898,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve during the 2nd quarter valued at $37,100,000. AQR Capital Management LLC boosted its stake in shares of Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after acquiring an additional 663,631 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Flowserve by 197.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after acquiring an additional 606,416 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Flowserve by 5,256.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after purchasing an additional 600,866 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 a number of recent analyst reports. Mizuho increased their price target on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group started coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company. Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.30.

Flowserve Stock Down 1.4 %

Flowserve stock opened at $60.83 on Friday. The firm’s 50 day moving average price is $56.77 and its two-hundred day moving average price is $51.17. The firm has a market cap of $7.99 billion, a PE ratio of 30.11, a P/E/G ratio of 1.49 and a beta of 1.41. Flowserve Co. has a twelve month low of $38.07 and a twelve month high of $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99.

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