820 Shares in Flowserve Co. (NYSE:FLS) Bought by Canton Hathaway LLC

Canton Hathaway LLC purchased a new stake in Flowserve Co. (NYSE:FLS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 820 shares of the industrial products company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Flowserve in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve in the 3rd quarter valued at $29,000. Signaturefd LLC lifted its holdings in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the last quarter. Allworth Financial LP lifted its holdings in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 403 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Flowserve during the second quarter worth $34,000. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

FLS has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird raised their price objective on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group initiated coverage on Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 target price on the stock. Finally, TD Cowen boosted their price target on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.30.

Flowserve Trading Up 0.8 %

Shares of NYSE:FLS opened at $61.50 on Monday. The company has a market capitalization of $8.08 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.47 and a beta of 1.38. 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 business’s 50 day simple moving average is $54.39 and its 200 day simple moving average is $50.37. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $62.15.

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). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, research analysts anticipate that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Company 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.