47,841 Shares in Flowserve Co. (NYSE:FLS) Purchased by Yaupon Capital Management LP

Yaupon Capital Management LP purchased a new position in shares of Flowserve Co. (NYSE:FLS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 47,841 shares of the industrial products company’s stock, valued at approximately $2,473,000.

Several other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in shares of Flowserve in the third quarter valued at $25,000. 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 acquiring an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Flowserve in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Flowserve during the 3rd quarter worth about $29,000. Finally, nVerses Capital LLC bought a new stake in shares of Flowserve in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 1.4 %

Shares of Flowserve stock opened at $60.83 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The firm has a 50-day moving average of $56.77 and a 200-day moving average of $51.16. Flowserve Co. has a 52-week low of $38.07 and a 52-week high of $62.32. The stock has a market cap of $7.99 billion, a PE ratio of 30.11, a PEG ratio of 1.49 and a beta of 1.41.

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 analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Flowserve Co. will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. Stifel Nicolaus raised their price target on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.