ExodusPoint Capital Management LP Has $19.42 Million Stake in Flowserve Co. (NYSE:FLS)

ExodusPoint Capital Management LP boosted its position in shares of Flowserve Co. (NYSE:FLS) by 353.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,691 shares of the industrial products company’s stock after acquiring an additional 407,350 shares during the period. ExodusPoint Capital Management LP owned 0.40% of Flowserve worth $19,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Flowserve by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,796,396 shares of the industrial products company’s stock valued at $310,952,000 after buying an additional 160,054 shares during the last quarter. BlackRock Inc. raised its position in shares of Flowserve by 0.8% during the first quarter. BlackRock Inc. now owns 10,793,498 shares of the industrial products company’s stock valued at $387,485,000 after buying an additional 88,950 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Flowserve during the first quarter valued at about $163,840,000. State Street Corp raised its position in shares of Flowserve by 2.4% during the first quarter. State Street Corp now owns 3,770,040 shares of the industrial products company’s stock valued at $128,931,000 after buying an additional 86,815 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its position in shares of Flowserve by 12.7% during the first quarter. ANTIPODES PARTNERS Ltd now owns 1,836,634 shares of the industrial products company’s stock valued at $62,445,000 after buying an additional 206,413 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Flowserve Price Performance

Shares of Flowserve stock opened at $38.43 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 0.80 and a beta of 1.55. Flowserve Co. has a 1-year low of $28.89 and a 1-year high of $41.01. The firm’s 50-day moving average price is $38.18 and its two-hundred day moving average price is $37.44.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09. Flowserve had a net margin of 5.85% and a return on equity of 14.29%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. Flowserve’s revenue was up 25.4% compared to the same quarter last year. On average, equities analysts predict that Flowserve Co. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Flowserve from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. The Goldman Sachs Group increased their price target on shares of Flowserve from $34.00 to $38.00 and gave the stock a “sell” rating in a research report on Thursday, August 3rd. StockNews.com assumed coverage on shares of Flowserve in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Jefferies Financial Group raised shares of Flowserve from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $50.00 in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of Flowserve in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.11.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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.