Massachusetts Financial Services Co. MA Raises Stock Holdings in Flowserve Co. (NYSE:FLS)

Massachusetts Financial Services Co. MA raised its position in shares of Flowserve Co. (NYSE:FLS) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,664,825 shares of the industrial products company’s stock after buying an additional 422,141 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.27% of Flowserve worth $86,055,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FLS. Signaturefd LLC boosted its stake in 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 acquiring an additional 370 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Flowserve in the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the 3rd quarter valued at approximately $29,000. nVerses Capital LLC purchased a new position in Flowserve during the second quarter valued at $34,000. Finally, Allworth Financial LP boosted its holdings in Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Flowserve in a research note on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. TD Cowen raised their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird increased their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” 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’s stock. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Trading Up 1.6 %

Shares of NYSE:FLS opened at $61.00 on Friday. Flowserve Co. has a 52-week low of $37.34 and a 52-week high of $62.15. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock’s 50-day simple moving average is $54.39 and its two-hundred day simple moving average is $50.35.

Flowserve (NYSE:FLS) last announced 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 the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts expect that Flowserve Co. will post 2.71 EPS for the current 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.