Quantbot Technologies LP Has $2.20 Million Position in Flowserve Co. (NYSE:FLS)

Quantbot Technologies LP increased its holdings in shares of Flowserve Co. (NYSE:FLS) by 1,671.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,509 shares of the industrial products company’s stock after buying an additional 40,109 shares during the period. Quantbot Technologies LP’s holdings in Flowserve were worth $2,197,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC lifted 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 purchasing an additional 370 shares during the period. V Square Quantitative Management LLC acquired a new position in Flowserve during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Flowserve in the 3rd quarter valued at about $29,000. nVerses Capital LLC acquired a new stake in shares of Flowserve in the second quarter valued at about $34,000. Finally, Allworth Financial LP increased its stake in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the period. 93.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Stock Performance

Shares of Flowserve stock opened at $60.73 on Friday. The business has a 50-day simple moving average of $55.25 and a 200 day simple moving average of $50.61. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.49 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a one year low of $37.34 and a one year high of $62.22.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

About Flowserve

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.