Flowserve Co. (NYSE:FLS) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its holdings in Flowserve Co. (NYSE:FLS) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,667 shares of the industrial products company’s stock after selling 7,100 shares during the period. Janus Henderson Group PLC’s holdings in Flowserve were worth $2,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLS. True Wealth Design LLC acquired a new position in Flowserve during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Flowserve during the 3rd quarter worth $29,000. Signaturefd LLC grew its stake in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS opened at $61.40 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $57.30 and its two-hundred day moving average is $51.41. Flowserve Co. has a 12-month low of $38.28 and a 12-month high of $62.32. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 1.46 and a beta of 1.41.

Flowserve (NYSE:FLS) last released 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 return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts expect that Flowserve Co. will post 2.71 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on FLS shares. Bank of America boosted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group assumed coverage on Flowserve in a report on Friday, October 18th. They set a “buy” rating and a $65.00 price target for the company. The Goldman Sachs Group lifted their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Citigroup lifted their price target on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $62.70.

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.