Kingsview Wealth Management LLC Takes $2.14 Million Position in Flowserve Co. (NYSE:FLS)

Kingsview Wealth Management LLC bought a new position in Flowserve Co. (NYSE:FLS) in the 3rd quarter, Holdings Channel.com reports. The firm bought 41,455 shares of the industrial products company’s stock, valued at approximately $2,143,000.

A number of other institutional investors have also added to or reduced their stakes in FLS. Millennium Management LLC lifted its position in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Flowserve during the 2nd quarter valued at $37,100,000. AQR Capital Management LLC raised its position in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after purchasing an additional 663,631 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Flowserve by 5,256.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after purchasing an additional 600,866 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of Flowserve during the second quarter valued at about $23,911,000. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FLS. Stifel Nicolaus increased 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. Mizuho increased 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. 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. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group increased their target price on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $61.30.

Flowserve Trading Up 1.4 %

NYSE FLS opened at $61.85 on Tuesday. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $62.22. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $54.39 and its 200-day moving average price is $50.37. The stock has a market cap of $8.13 billion, a P/E ratio of 30.62, a P/E/G ratio of 1.47 and a beta of 1.38.

Flowserve (NYSE:FLS) last announced 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). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. As a group, equities analysts forecast that Flowserve Co. will post 2.71 EPS for the current fiscal year.

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.