Shell Asset Management Co. Has $1.85 Million Position in Flowserve Corp (FLS)

Shell Asset Management Co. lessened its position in shares of Flowserve Corp (NYSE:FLS) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,885 shares of the industrial products company’s stock after selling 3,790 shares during the quarter. Shell Asset Management Co.’s holdings in Flowserve were worth $1,853,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Flowserve during the 2nd quarter worth approximately $3,776,000. BNP Paribas Arbitrage SA raised its stake in Flowserve by 11.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 71,416 shares of the industrial products company’s stock worth $2,885,000 after buying an additional 7,073 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Flowserve during the 2nd quarter worth approximately $17,663,000. Raymond James Financial Services Advisors Inc. raised its stake in Flowserve by 7.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 29,454 shares of the industrial products company’s stock worth $1,190,000 after buying an additional 2,136 shares during the period. Finally, TD Asset Management Inc. raised its stake in Flowserve by 487.0% during the 2nd quarter. TD Asset Management Inc. now owns 219,281 shares of the industrial products company’s stock worth $8,859,000 after buying an additional 181,923 shares during the period.

Shares of FLS opened at $48.51 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.24 and a quick ratio of 1.60. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 35.67, a P/E/G ratio of 1.62 and a beta of 1.55. Flowserve Corp has a 52 week low of $38.79 and a 52 week high of $56.86.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $952.72 million during the quarter, compared to analyst estimates of $925.33 million. Flowserve had a positive return on equity of 11.66% and a negative net margin of 1.27%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. Analysts expect that Flowserve Corp will post 1.74 EPS for the current year.

FLS has been the topic of a number of research reports. Royal Bank of Canada upped their price target on Flowserve to $50.00 and gave the stock an “average” rating in a research note on Friday, November 9th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a research note on Sunday, November 11th. Robert W. Baird decreased their price objective on Flowserve from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 12th. Morgan Stanley assumed coverage on Flowserve in a report on Monday, August 20th. They set an “equal weight” rating and a $50.00 price objective for the company. Finally, DA Davidson boosted their price objective on Flowserve to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.00.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.com-unik.info/2018/12/02/shell-asset-management-co-has-1-85-million-position-in-flowserve-corp-fls.html.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

Further Reading: Short Selling

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Corp (NYSE:FLS).

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit