Point72 Hong Kong Ltd Buys Shares of 31,842 Flowserve Co. (NYSE:FLS)

Point72 Hong Kong Ltd purchased a new position in Flowserve Co. (NYSE:FLS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,842 shares of the industrial products company’s stock, valued at approximately $1,646,000.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Flowserve in the 3rd quarter worth approximately $25,000. Signaturefd LLC raised its holdings in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Flowserve during the third quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in Flowserve in the third quarter valued at about $29,000. Finally, nVerses Capital LLC acquired a new position in Flowserve in the 2nd quarter worth about $34,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FLS shares. Mizuho boosted their price target on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Finally, Stifel Nicolaus increased their price objective on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Trading Up 0.5 %

Shares of FLS stock opened at $61.02 on Monday. The firm has a market capitalization of $8.02 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.47 and a beta of 1.38. Flowserve Co. has a 1 year low of $37.66 and a 1 year high of $62.22. The firm’s fifty day simple moving average is $55.77 and its 200 day simple moving average is $50.78. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last posted 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve Co. will post 2.71 EPS 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.