Martingale Asset Management L P Increases Stake in Flowserve Co. (NYSE:FLS)

Martingale Asset Management L P increased its position in Flowserve Co. (NYSE:FLS) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 106,305 shares of the industrial products company’s stock after acquiring an additional 4,925 shares during the quarter. Martingale Asset Management L P’s holdings in Flowserve were worth $5,495,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC increased its holdings in Flowserve by 0.6% in the 3rd quarter. Isthmus Partners LLC now owns 233,059 shares of the industrial products company’s stock worth $12,047,000 after acquiring an additional 1,344 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Flowserve by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 368,086 shares of the industrial products company’s stock worth $19,026,000 after acquiring an additional 14,452 shares during the last quarter. Beaconlight Capital LLC grew its holdings in Flowserve by 82.6% during the 3rd quarter. Beaconlight Capital LLC now owns 172,884 shares of the industrial products company’s stock valued at $8,936,000 after buying an additional 78,194 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Flowserve by 51.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 104,884 shares of the industrial products company’s stock valued at $5,421,000 after buying an additional 35,735 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Flowserve during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE:FLS opened at $61.03 on Friday. 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 1-year low of $37.66 and a 1-year high of $62.22. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.46 and a beta of 1.38. The business has a 50 day moving average of $55.50 and a 200 day moving average of $50.68.

Flowserve (NYSE:FLS) last posted its earnings results 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 net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $0.50 earnings per share. Flowserve’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts predict that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FLS. Stifel Nicolaus lifted their target price on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. Mizuho lifted their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $57.00 to $69.00 in a report on Friday, November 22nd. One equities 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. According to data from MarketBeat.com, Flowserve 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.