Millburn Ridgefield Corp Buys Shares of 3,004 Flowserve Co. (NYSE:FLS)

Millburn Ridgefield Corp purchased a new position in Flowserve Co. (NYSE:FLS) during the third quarter, HoldingsChannel reports. The firm purchased 3,004 shares of the industrial products company’s stock, valued at approximately $155,000.

Several other large investors also recently modified their holdings of FLS. AQR Capital Management LLC grew its stake in shares of Flowserve by 31.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Earnest Partners LLC grew its position in Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after buying an additional 121,873 shares during the period. Millennium Management LLC increased its holdings in 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 buying an additional 1,596,429 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after acquiring an additional 44,039 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Flowserve by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after acquiring an additional 169,506 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the subject of several analyst reports. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America raised their price objective on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Robert W. Baird raised their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus upped their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $61.30.

Flowserve Trading Up 1.1 %

Shares of FLS opened at $61.54 on Wednesday. Flowserve Co. has a 1 year low of $38.07 and a 1 year high of $62.22. The company has a 50 day simple moving average of $56.20 and a two-hundred day simple moving average of $50.94. 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 market cap of $8.08 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.47 and a beta of 1.41.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s revenue 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. On average, equities analysts expect that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

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.