Energy Income Partners LLC purchased a new stake in Flowserve Corporation (NYSE:FLS – Free Report) during the second quarter, Holdings Channel.com reports. The firm purchased 75,188 shares of the industrial products company’s stock, valued at approximately $5,576,000.
A number of other large investors have also added to or reduced their stakes in FLS. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Flowserve in the 2nd quarter valued at about $34,000. Global Retirement Partners LLC bought a new position in shares of Flowserve during the 2nd quarter worth approximately $38,000. Atlas Capital Advisors Inc. bought a new position in shares of Flowserve during the 4th quarter worth approximately $36,000. BOKF NA purchased a new stake in Flowserve during the third quarter valued at approximately $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Flowserve during the third quarter valued at approximately $36,000. 93.93% of the stock is currently owned by institutional investors.
Flowserve Trading Down 2.5%
Shares of NYSE:FLS opened at $78.98 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.58 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41. The business has a 50 day moving average of $75.01 and a two-hundred day moving average of $77.16. The company has a market capitalization of $10.04 billion, a PE ratio of 27.71, a PEG ratio of 1.80 and a beta of 1.23.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Stifel Nicolaus lifted their target price on shares of Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, June 24th. Royal Bank Of Canada raised their target price on Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.60.
Get Our Latest Analysis on Flowserve
About Flowserve
Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.
Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.
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