Thrivent Financial for Lutherans Acquires 44,039 Shares of Flowserve Co. (NYSE:FLS)

Thrivent Financial for Lutherans boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,603,528 shares of the industrial products company’s stock after acquiring an additional 44,039 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.98% of Flowserve worth $134,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in shares of Flowserve by 185.9% during the second 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 acquired a new position in Flowserve during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in Flowserve in the 3rd quarter valued at $29,000. nVerses Capital LLC acquired a new stake in shares of Flowserve in the 2nd quarter valued at $34,000. Finally, Allworth Financial LP raised its position 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 worth $34,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FLS. The Goldman Sachs Group raised their price target on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a report on Thursday, October 10th. Robert W. Baird raised their target price 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. Bank of America boosted their price target on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on shares of Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

Flowserve Price Performance

Shares of FLS stock opened at $59.23 on Friday. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. Flowserve Co. has a 12-month low of $37.24 and a 12-month high of $61.60. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $52.97 and a 200-day moving average of $49.93.

Flowserve (NYSE:FLS) last announced its quarterly 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). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Flowserve Co. will post 2.72 earnings per share for the current 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.