Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

How Flowserve Corp (FLS) Stacks Up Against Its Peers

Seeing as Flowserve Corp (NYSE:FLS) has weathered bearish sentiment from hedge fund managers, it’s safe to say that there were a few hedgies that decided to sell off their positions entirely heading into Q4. It’s worth mentioning that Jean-Marie Eveillard’s First Eagle Investment Management cashed in the biggest investment of the 700 funds monitored by Insider Monkey, totaling close to $543 million in stock. Matthew Tewksbury’s fund, Stevens Capital Management, also dropped its stock, about $4.5 million worth.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Flowserve Corp (NYSE:FLS) but similarly valued. We will take a look at Jacobs Engineering Group Inc (NYSE:JEC), Zillow Inc (NASDAQ:Z), MarketAxess Holdings Inc. (NASDAQ:MKTX), and Tyler Technologies, Inc. (NYSE:TYL). All of these stocks’ market caps are similar to FLS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JEC 17 147916 -1
Z 26 614342 0
MKTX 20 123477 0
TYL 19 245181 -2

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $283 million. That figure was $402 million in FLS’s case. Zillow Inc (NASDAQ:Z) is the most popular stock in this table. On the other hand Jacobs Engineering Group Inc (NYSE:JEC) is the least popular one with only 17 bullish hedge fund positions. Flowserve Corp (NYSE:FLS) has the same number of hedge funds as Zillow but the total value of hedge fund positions is materially lower. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds have larger positions. In this regard Z might be a better candidate to consider taking a long position in.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.