Point72 DIFC Ltd Buys New Holdings in Flowserve Co. (NYSE:FLS)

Point72 DIFC Ltd purchased a new position in Flowserve Co. (NYSE:FLS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,145 shares of the industrial products company’s stock, valued at approximately $886,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLS. True Wealth Design LLC purchased a new stake in Flowserve in the 3rd quarter worth about $25,000. Signaturefd LLC grew its stake in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Flowserve during the 3rd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Flowserve during the 3rd quarter valued at $29,000. Finally, nVerses Capital LLC bought a new position in Flowserve in the 2nd quarter valued at $34,000. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird increased their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price objective on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Trading Down 0.5 %

Shares of NYSE:FLS opened at $61.69 on Friday. The company has a market capitalization of $8.10 billion, a PE ratio of 30.54, a P/E/G ratio of 1.48 and a beta of 1.41. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12-month low of $38.07 and a 12-month high of $62.32. The business’s fifty day simple moving average is $56.58 and its 200-day simple moving average is $51.09.

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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.50 EPS. Flowserve’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

About Flowserve

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.