The stock of Flowserve Corp (NYSE:FLS) is a huge mover today! About 688,830 shares traded hands. Flowserve Corp (NYSE:FLS) has declined 5.85% since April 27, 2016 and is downtrending. It has underperformed by 11.08% the S&P500.
The move comes after 6 months positive chart setup for the $6.03B company. It was reported on Nov, 30 by Barchart.com. We have $50.11 PT which if reached, will make NYSE:FLS worth $301.50 million more.
Analysts await Flowserve Corp (NYSE:FLS) to report earnings on February, 16. They expect $0.67 earnings per share, down 24.72% or $0.22 from last year’s $0.89 per share. FLS’s profit will be $84.66 million for 17.81 P/E if the $0.67 EPS becomes a reality. After $0.52 actual earnings per share reported by Flowserve Corp for the previous quarter, Wall Street now forecasts 28.85% EPS growth.
Flowserve Corp (NYSE:FLS) Ratings Coverage
Out of 17 analysts covering Flowserve Corporation (NYSE:FLS), 4 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 24% are positive. Flowserve Corporation has been the topic of 33 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Flowserve Corp (NYSE:FLS) earned “Sector Weight” rating by KeyBanc Capital Markets on Tuesday, May 10. On Tuesday, April 5 the stock rating was initiated by BMO Capital Markets with “Market Perform”. On Monday, April 4 the stock rating was downgraded by Nomura to “Reduce”. The firm has “Neutral” rating by Goldman Sachs given on Monday, October 31. The stock of Flowserve Corp (NYSE:FLS) has “Buy” rating given on Wednesday, July 29 by Maxim Group. The firm earned “Hold” rating on Tuesday, July 28 by BB&T Capital. On Tuesday, February 2 the stock rating was maintained by Maxim Group with “Buy”. The firm has “Underperform” rating given on Monday, February 22 by RBC Capital Markets. SunTrust initiated the shares of FLS in a report on Tuesday, November 3 with “Neutral” rating. As per Monday, October 31, the company rating was maintained by RBC Capital Markets.
According to Zacks Investment Research, “Flowserve Corporation is one of the world’s leading providers of industrial flow management services. Operating in 25 countries, with more than 7,000 employees, the company produces highly engineered and modular pumps, precision mechanical seals, smart, specialty, and quarter-turn valves and valve actuators, and a range of related flow management services. (Press Release)”
Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.36, from 1.16 in 2016Q1. The ratio fall, as 25 funds sold all Flowserve Corp shares owned while 129 reduced positions. 51 funds bought stakes while 128 increased positions. They now own 125.51 million shares or 2.24% less from 128.39 million shares in 2016Q1.
Envestnet Asset Mngmt Inc reported 94,817 shares or 0.02% of all its holdings. Gateway Investment Advisers Limited has 13,962 shares for 0.01% of their US portfolio. The Massachusetts-based Essex Inv Ltd Com has invested 0.14% in Flowserve Corp (NYSE:FLS). Comerica State Bank owns 37,476 shares or 0.02% of their US portfolio. Bryn Mawr accumulated 50,798 shares or 0.15% of the stock. Gamco Invsts Inc Et Al holds 0.81% of its portfolio in Flowserve Corp (NYSE:FLS) for 2.73 million shares. State Board Of Administration Of Florida Retirement owns 193,205 shares or 0.03% of their US portfolio. First Manhattan reported 2,100 shares or 0% of all its holdings. Franklin Resources holds 0% of its portfolio in Flowserve Corp (NYSE:FLS) for 8,185 shares. Proshare Advsrs Ltd Liability Company owns 12,261 shares or 0.01% of their US portfolio. Agran Libbie accumulated 0.14% or 12,425 shares. Denver Inv Advsr Ltd Liability Company accumulated 0.08% or 40,250 shares. Stevens Mngmt Limited Partnership holds 0.18% of its portfolio in Flowserve Corp (NYSE:FLS) for 100,094 shares. Financial has 0.01% invested in the company for 266 shares. Blackrock Fund, a California-based fund reported 1.98 million shares.
Insider Transactions: Since August 2, 2016, the stock had 0 insider purchases, and 4 sales for $10.49 million net activity. BLINN MARK A had sold 119,232 shares worth $4.96 million. Pajonas Thomas L had sold 35,000 shares worth $1.59M on Tuesday, August 2. 2,169 shares were sold by RUSNACK WILLIAM C, worth $101,326 on Wednesday, August 3.
FLS Company Profile
Flowserve Corporation, incorporated on May 1, 1912, is a maker and aftermarket service well-known provider of flow control systems. The Firm develops and makes flow control equipment integral to the movement, control and protection of the flow of materials. The Firm operates through three divisions: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). The Company’s EPD designs, makes, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment. The Company’s IPD designs, makes, distributes and services pre-configured engineered pumps and pump systems, including submersible motors, for industrial markets. The Company’s FCD designs, makes, distributes and services a portfolio of industrial valve and automation solutions, including isolation and control valves, actuation, controls and related equipment.
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