Tocqueville Asset Management L.P. lessened its holdings in shares of Flowserve Corporation (NYSE:FLS) by 6.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 180,244 shares of the industrial products company’s stock after selling 11,588 shares during the period. Tocqueville Asset Management L.P. owned 0.14% of Flowserve Corporation worth $7,677,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC boosted its holdings in Flowserve Corporation by 2.5% in the second quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 126 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Flowserve Corporation in the second quarter valued at about $840,000. GAM Holding AG lifted its stake in Flowserve Corporation by 2.4% in the second quarter. GAM Holding AG now owns 56,822 shares of the industrial products company’s stock valued at $2,638,000 after buying an additional 1,306 shares during the period. Legal & General Group Plc lifted its stake in Flowserve Corporation by 2.9% in the second quarter. Legal & General Group Plc now owns 649,800 shares of the industrial products company’s stock valued at $30,170,000 after buying an additional 18,039 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Flowserve Corporation in the second quarter valued at about $458,000.
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Flowserve Corporation (NYSE FLS) opened at $39.07 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The company has a market capitalization of $5,111.75, a P/E ratio of 25.08, a PEG ratio of 3.16 and a beta of 1.55.
Flowserve Corporation (NYSE:FLS) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The company had revenue of $883.38 million during the quarter, compared to the consensus estimate of $871.20 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. research analysts anticipate that Flowserve Corporation will post 1.38 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. Boenning Scattergood reissued a “hold” rating on shares of Flowserve Corporation in a research note on Thursday, November 2nd. Robert W. Baird reissued a “hold” rating and issued a $43.00 target price on shares of Flowserve Corporation in a research note on Wednesday, October 4th. BMO Capital Markets lowered Flowserve Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Zacks Investment Research raised Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Flowserve Corporation in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.27.
Flowserve Corporation Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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