BNP Paribas Financial Markets Has $5.42 Million Stake in Flowserve Co. (NYSE:FLS)

BNP Paribas Financial Markets boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 51.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,884 shares of the industrial products company’s stock after purchasing an additional 35,735 shares during the quarter. BNP Paribas Financial Markets’ holdings in Flowserve were worth $5,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Flowserve in the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve during the third quarter worth approximately $29,000. Signaturefd LLC raised its stake in shares of Flowserve by 185.9% in the second 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 last quarter. Allworth Financial LP boosted its holdings in shares of 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 in the last quarter. Finally, nVerses Capital LLC bought a new stake in Flowserve during the 2nd quarter worth approximately $34,000. 93.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLS. Robert W. Baird lifted their price objective on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price objective on the stock. The Goldman Sachs Group upped their target price 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. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.30.

Flowserve Trading Up 1.1 %

FLS opened at $61.54 on Wednesday. Flowserve Co. has a fifty-two week low of $38.07 and a fifty-two week high of $62.22. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $56.20 and a 200 day simple moving average of $50.94.

Flowserve (NYSE:FLS) last posted its quarterly 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $0.50 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current 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.