Louisiana State Employees Retirement System decreased its position in shares of Flowserve Corp (NYSE:FLS) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,300 shares of the industrial products company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Flowserve were worth $294,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in shares of Flowserve by 1,211.5% in the second quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 630 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Flowserve in the second quarter worth about $43,000. Trust Co. of Vermont bought a new position in shares of Flowserve in the second quarter worth about $63,000. Commonwealth Bank of Australia lifted its holdings in shares of Flowserve by 22.0% in the second quarter. Commonwealth Bank of Australia now owns 1,679 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 303 shares during the last quarter. Finally, Ossiam bought a new position in shares of Flowserve in the second quarter worth about $117,000. 97.36% of the stock is owned by hedge funds and other institutional investors.
Flowserve stock opened at $49.44 on Wednesday. The business has a 50 day moving average of $46.87 and a 200-day moving average of $47.89. Flowserve Corp has a 1 year low of $35.88 and a 1 year high of $55.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.63. The company has a market capitalization of $6.43 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.54 and a beta of 1.70.
A number of research firms have recently commented on FLS. ValuEngine cut shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on shares of Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Morgan Stanley dropped their target price on shares of Flowserve from $47.00 to $43.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. TheStreet raised shares of Flowserve from a “c+” rating to a “b” rating in a report on Wednesday, October 30th. Finally, Credit Suisse Group raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.56.
Flowserve Corporation designs, develops, 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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