Entropy Technologies LP Buys New Position in Flowserve Co. (NYSE:FLS)

Entropy Technologies LP purchased a new position in Flowserve Co. (NYSE:FLS) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 24,666 shares of the industrial products company’s stock, valued at approximately $1,275,000.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank boosted its stake in Flowserve by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after purchasing an additional 305 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Flowserve by 3.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,564 shares of the industrial products company’s stock worth $442,000 after buying an additional 318 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Flowserve by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 7,907 shares of the industrial products company’s stock valued at $409,000 after buying an additional 342 shares during the last quarter. Signaturefd LLC increased 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. Finally, Allworth Financial LP raised its stake in Flowserve by 159.9% in the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 0.9 %

FLS stock opened at $59.87 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 52-week low of $37.24 and a 52-week high of $61.60. The company’s 50-day simple moving average is $52.45 and its 200-day simple moving average is $49.76. The firm has a market cap of $7.87 billion, a P/E ratio of 29.64, a PEG ratio of 1.45 and a beta of 1.38.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The business had revenue of $1.13 billion during 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 firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, equities analysts forecast that Flowserve Co. will post 2.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Bank of America increased their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $60.10.

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.