What’s Flowserve Corporation (NYSE:FLS) Upside After This Short Interest Increase?

May 26, 2018 - By Linda Rogers

Flowserve Corporation (NYSE:FLS) Logo

Investors sentiment increased to 0.98 in 2017 Q4. Its up 0.14, from 0.84 in 2017Q3. It is positive, as 41 investors sold Flowserve Corporation shares while 104 reduced holdings. 41 funds opened positions while 101 raised stakes. 132.57 million shares or 0.27% more from 132.21 million shares in 2017Q3 were reported.
Advantus Cap Management Inc reported 0.01% of its portfolio in Flowserve Corporation (NYSE:FLS). Andra Ap holds 0.04% or 37,000 shares in its portfolio. Ameritas Invest Prtnrs Inc, Nebraska-based fund reported 3,117 shares. Tower Ltd Liability Corp (Trc) holds 0.02% in Flowserve Corporation (NYSE:FLS) or 2,887 shares. Balyasny Asset Mgmt Lc invested in 0% or 8,120 shares. Blackrock Inc holds 0.02% or 8.35 million shares in its portfolio. Huntington Savings Bank accumulated 0% or 2,195 shares. Sg Americas Securities Limited has invested 0.25% in Flowserve Corporation (NYSE:FLS). Jane Street Group Ltd Liability owns 54,729 shares. 11,190 were reported by Pitcairn. Brown Advisory reported 34,632 shares or 0% of all its holdings. Nomura Inc holds 0% in Flowserve Corporation (NYSE:FLS) or 8,360 shares. Fjarde Ap, Alabama-based fund reported 45,980 shares. 116,055 are owned by Chevy Chase Trust Holdg. Commonwealth Natl Bank Of holds 14,612 shares.

The stock of Flowserve Corporation (NYSE:FLS) registered an increase of 0.73% in short interest. FLS’s total short interest was 12.27M shares in May as published by FINRA. Its up 0.73% from 12.18M shares, reported previously. With 1.37 million shares average volume, it will take short sellers 9 days to cover their FLS’s short positions. The short interest to Flowserve Corporation’s float is 9.43%.

The stock decreased 2.11% or $0.91 during the last trading session, reaching $42.28. About 880,649 shares traded. Flowserve Corporation (NYSE:FLS) has declined 10.24% since May 26, 2017 and is downtrending. It has underperformed by 21.79% the S&P500.

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment worldwide. The company has market cap of $5.53 billion. The firm operates through three divisions: Engineered Product Division , Industrial Product Division (IPD), and Flow Control Division (FCD). It has a 2114 P/E ratio. The EPD segment offers custom and other engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, and related services, as well as makes gas-lubricated mechanical seal that is used in high-speed compressors.

Flowserve Corporation (NYSE:FLS) Ratings Coverage

Among 7 analysts covering Flowserve (NYSE:FLS), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. Flowserve had 12 analyst reports since December 8, 2017 according to SRatingsIntel. RBC Capital Markets upgraded the stock to “Hold” rating in Monday, February 19 report. The stock of Flowserve Corporation (NYSE:FLS) has “Hold” rating given on Tuesday, January 16 by Stifel Nicolaus. The firm has “Hold” rating given on Tuesday, February 20 by Stifel Nicolaus. The rating was maintained by BMO Capital Markets with “Hold” on Thursday, January 25. The company was downgraded on Friday, December 8 by Goldman Sachs. Robert W. Baird maintained the shares of FLS in report on Wednesday, April 4 with “Hold” rating. The company was maintained on Monday, May 14 by Stifel Nicolaus. The rating was downgraded by Stifel Nicolaus on Monday, December 11 to “Hold”. Robert W. Baird maintained the shares of FLS in report on Wednesday, December 13 with “Hold” rating. The company was maintained on Friday, January 12 by Susquehanna.

More recent Flowserve Corporation (NYSE:FLS) news were published by: Seekingalpha.com which released: “Flowserve -4% as Q1 bookings, backlog slip” on May 10, 2018. Also Businesswire.com published the news titled: “Flowserve Holds 2018 Annual Meeting of Shareholders” on May 24, 2018. Seekingalpha.com‘s news article titled: “Flowserve’s (FLS) CEO Scott Rowe on Q1 2018 Results – Earnings Call Transcript” with publication date: May 11, 2018 was also an interesting one.

Flowserve Corporation (NYSE:FLS) Institutional Positions Chart

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