Great West Life Assurance Co. Can Cuts Holdings in Flowserve Co. (NYSE:FLS)
Great West Life Assurance Co. Can trimmed its holdings in shares of Flowserve Co. (NYSE:FLS – Free Report) by 77.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,127 shares of the industrial products company’s stock after selling 284,640 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of Flowserve worth $3,126,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of FLS. First Manhattan CO. LLC. raised its stake in shares of Flowserve by 682.6% during the 1st quarter. First Manhattan CO. LLC. now owns 900 shares of the industrial products company’s stock worth $31,000 after buying an additional 785 shares in the last quarter. Quarry LP purchased a new position in shares of Flowserve during the 1st quarter worth approximately $38,000. Harbour Investments Inc. raised its stake in shares of Flowserve by 79.5% during the 4th quarter. Harbour Investments Inc. now owns 1,581 shares of the industrial products company’s stock worth $49,000 after buying an additional 700 shares in the last quarter. Gyon Technologies Capital Management LP purchased a new position in shares of Flowserve during the 4th quarter worth approximately $58,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Flowserve during the 2nd quarter worth approximately $59,000. 94.50% of the stock is owned by hedge funds and other institutional investors.
Flowserve Price Performance
FLS stock opened at $38.26 on Friday. Flowserve Co. has a 52-week low of $28.89 and a 52-week high of $41.01. The stock’s fifty day simple moving average is $37.94 and its 200-day simple moving average is $37.58. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.78 and a beta of 1.55.
Flowserve (NYSE:FLS – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. Flowserve had a return on equity of 14.29% and a net margin of 5.85%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. Equities research analysts expect that Flowserve Co. will post 2.03 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of Flowserve in a research note on Friday, September 29th. Morgan Stanley raised their price objective on Flowserve from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Mizuho raised their price objective on Flowserve from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Jefferies Financial Group raised Flowserve from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $50.00 in a research note on Tuesday, September 26th. Finally, StockNews.com assumed coverage on Flowserve in a research note on Thursday, October 5th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.11.
View Our Latest Stock Analysis on FLS
Flowserve Profile (Free Report)
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Flowserve, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Flowserve wasn’t on the list.
While Flowserve currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Original: MarketBeat News Feed: Great West Life Assurance Co. Can Cuts Holdings in Flowserve Co. (NYSE:FLS)