Chesapeake Capital Corp IL Has $652,000 Position in Flowserve Co. (NYSE:FLS)

Chesapeake Capital Corp IL increased its stake in shares of Flowserve Co. (NYSE:FLS) by 27.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,689 shares of the industrial products company’s stock after buying an additional 2,769 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Flowserve were worth $652,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FLS. Millennium Management LLC grew its position in Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after buying an additional 1,596,429 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Flowserve during the first quarter worth approximately $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Flowserve during the second quarter worth approximately $37,100,000. AQR Capital Management LLC grew its position in Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after buying an additional 663,631 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLS. Royal Bank of Canada raised their target price on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on Flowserve from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Mizuho raised their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Stock Up 0.1 %

Shares of NYSE:FLS opened at $59.23 on Friday. The firm has a market cap of $7.78 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.42 and a beta of 1.38. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12-month low of $37.24 and a 12-month high of $61.60. The business has a fifty day simple moving average of $52.97 and a 200 day simple moving average of $49.93.

Flowserve (NYSE:FLS) last announced its 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). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. Analysts predict 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.