Algert Global LLC Buys 61,710 Shares of Flowserve Co. (NYSE:FLS)

Algert Global LLC grew its stake in shares of Flowserve Co. (NYSE:FLS) by 130.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,079 shares of the industrial products company’s stock after acquiring an additional 61,710 shares during the quarter. Algert Global LLC owned about 0.08% of Flowserve worth $5,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. KPP Advisory Services LLC increased its holdings in shares of Flowserve by 3.2% during the third quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 215 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Flowserve by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after buying an additional 277 shares in the last quarter. Toronto Dominion Bank increased its holdings in Flowserve by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after buying an additional 305 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Flowserve by 3.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after buying an additional 318 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Flowserve by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock worth $409,000 after buying an additional 342 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Up 1.6 %

FLS stock opened at $61.00 on Friday. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $62.15. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.01 billion, a P/E ratio of 30.20, a PEG ratio of 1.45 and a beta of 1.38. The business’s 50-day moving average price is $54.39 and its 200-day moving average price is $50.35.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FLS shares. The Goldman Sachs Group lifted their price objective on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Thursday, October 10th. TD Cowen lifted their price objective on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America boosted their price target on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and a consensus target price of $61.30.

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.