Davidson Investment Advisors Has $22.78 Million Position in Flowserve Corp (FLS)

Davidson Investment Advisors increased its stake in Flowserve Corp (NYSE:FLS) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 416,577 shares of the industrial products company’s stock after acquiring an additional 3,658 shares during the period. Flowserve makes up approximately 2.3% of Davidson Investment Advisors’ investment portfolio, making the stock its 10th biggest position. Davidson Investment Advisors owned 0.32% of Flowserve worth $22,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Korea Investment CORP raised its stake in shares of Flowserve by 913.6% during the third quarter. Korea Investment CORP now owns 104,400 shares of the industrial products company’s stock valued at $5,710,000 after acquiring an additional 94,100 shares in the last quarter. Credit Suisse AG raised its stake in shares of Flowserve by 36.4% during the third quarter. Credit Suisse AG now owns 197,162 shares of the industrial products company’s stock valued at $10,782,000 after acquiring an additional 52,663 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Flowserve by 1.6% during the third quarter. Canada Pension Plan Investment Board now owns 84,052 shares of the industrial products company’s stock valued at $4,597,000 after acquiring an additional 1,300 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Flowserve by 472.2% during the third quarter. Trexquant Investment LP now owns 31,032 shares of the industrial products company’s stock valued at $1,697,000 after acquiring an additional 25,609 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of Flowserve by 6.3% during the third quarter. American International Group Inc. now owns 51,405 shares of the industrial products company’s stock valued at $2,811,000 after acquiring an additional 3,028 shares in the last quarter.

Shares of NYSE:FLS opened at $44.98 on Monday. The company has a market capitalization of $5.89 billion, a P/E ratio of 30.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.55. Flowserve Corp has a 52 week low of $38.79 and a 52 week high of $56.86. The company has a quick ratio of 1.60, a current ratio of 2.24 and a debt-to-equity ratio of 0.88.

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 company had revenue of $952.72 million during the quarter, compared to the consensus estimate of $925.33 million. Flowserve had a negative net margin of 1.27% and a positive return on equity of 11.66%. Flowserve’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, sell-side analysts predict that Flowserve Corp will post 1.74 EPS for the current fiscal year.

FLS has been the subject of several research analyst reports. Credit Suisse Group began coverage on shares of Flowserve in a research note on Friday, October 12th. They set a “neutral” rating and a $55.00 price target for the company. Morgan Stanley began coverage on shares of Flowserve in a research note on Monday, August 20th. They issued an “equal weight” rating and a $50.00 price objective for the company. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday, September 13th. Vertical Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Thursday, October 18th. Finally, SunTrust Banks boosted their price objective on shares of Flowserve to $46.00 and gave the stock a “hold” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Flowserve has a consensus rating of “Hold” and an average target price of $50.00.

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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).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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