Prospera Financial Services Inc Buys 1,314 Shares of Flowserve Co. (NYSE:FLS)

Prospera Financial Services Inc grew its stake in Flowserve Co. (NYSE:FLS) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,311 shares of the industrial products company’s stock after acquiring an additional 1,314 shares during the quarter. Prospera Financial Services Inc’s holdings in Flowserve were worth $1,515,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Flowserve in the second quarter worth $37,100,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Flowserve by 5,256.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Interval Partners LP boosted its position in shares of Flowserve by 60.1% during the second quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock valued at $44,593,000 after buying an additional 348,107 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Flowserve by 58.3% during the second quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 15,029 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Price Performance

NYSE FLS opened at $60.06 on Friday. 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 business’s fifty day moving average is $53.83 and its 200 day moving average is $50.19. The company has a market capitalization of $7.89 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.38. Flowserve Co. has a fifty-two week low of $37.24 and a fifty-two week high of $61.60.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Flowserve Co. will post 2.72 earnings per share for the current year.

Analysts Set New Price Targets

FLS has been the topic of several research analyst reports. Mizuho upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Jefferies Financial Group assumed coverage on shares of Flowserve in a report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada upped their price objective on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average price target of $60.10.

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.