Quantbot Technologies LP Has $2.20 Million Stock Position in Flowserve Co. (NYSE:FLS)

Quantbot Technologies LP increased its stake in Flowserve Co. (NYSE:FLS) by 1,671.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,509 shares of the industrial products company’s stock after buying an additional 40,109 shares during the quarter. Quantbot Technologies LP’s holdings in Flowserve were worth $2,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC grew its position in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares during the period. V Square Quantitative Management LLC bought a new position in Flowserve during the third quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve during the third quarter worth approximately $29,000. nVerses Capital LLC bought a new stake in Flowserve in the second quarter valued at approximately $34,000. Finally, Allworth Financial LP lifted its position in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FLS shares. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their target price on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Finally, TD Cowen increased their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Price Performance

Flowserve stock opened at $60.73 on Friday. The stock has a fifty day moving average of $55.25 and a 200-day moving average of $50.61. The stock has a market capitalization of $7.98 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.49 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. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $62.22.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. On average, sell-side analysts expect that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

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.