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.

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