Brooklyn Investment Group Takes $42,000 Position in Flowserve Co. (NYSE:FLS)

Brooklyn Investment Group acquired a new stake in Flowserve Co. (NYSE:FLS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 812 shares of the industrial products company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC lifted its stake in shares of Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Flowserve in the 2nd quarter valued at about $37,100,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Interval Partners LP lifted its position in Flowserve by 60.1% during the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after acquiring an additional 348,107 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Flowserve by 58.3% during the 2nd quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 15,029 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

FLS stock opened at $61.03 on Friday. 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 firm has a market cap of $8.02 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.46 and a beta of 1.38. Flowserve Co. has a 12-month low of $37.66 and a 12-month high of $62.22. The stock’s 50 day simple moving average is $55.50 and its 200 day simple moving average is $50.68.

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

Analyst Ratings Changes

Several equities analysts recently commented on FLS shares. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Robert W. Baird boosted their price target on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group started coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.