Canton Hathaway LLC Makes New Investment in Flowserve Co. (NYSE:FLS)

Canton Hathaway LLC bought a new stake in Flowserve Co. (NYSE:FLS) during the third quarter, HoldingsChannel.com reports. The firm bought 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. Signaturefd LLC grew its holdings in shares of 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. V Square Quantitative Management LLC bought a new position in shares of Flowserve in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC bought a new stake in Flowserve during the 3rd quarter worth $29,000. nVerses Capital LLC acquired a new position in Flowserve in the 2nd quarter worth about $34,000. Finally, Allworth Financial LP boosted its stake in shares of Flowserve by 159.9% during the third 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 in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 0.8 %

FLS opened at $61.50 on Monday. The company has a fifty day moving average price of $54.39 and a two-hundred day moving average price of $50.37. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $62.15. The company has a market cap of $8.08 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 1.47 and a beta of 1.38. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. Analysts predict that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on FLS shares. Bank of America upped their price objective on Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.30.

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.