DNB Asset Management AS lifted its stake in Flowserve Corp (NYSE:FLS) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,228 shares of the industrial products company’s stock after buying an additional 4,200 shares during the period. DNB Asset Management AS’s holdings in Flowserve were worth $1,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Flowserve by 29.2% in the first quarter. Wells Fargo & Company MN now owns 145,130 shares of the industrial products company’s stock valued at $6,288,000 after purchasing an additional 32,763 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Flowserve by 26.5% during the first quarter. Dimensional Fund Advisors LP now owns 958,608 shares of the industrial products company’s stock worth $41,536,000 after buying an additional 200,612 shares during the period. PNC Financial Services Group Inc. boosted its stake in Flowserve by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 17,763 shares of the industrial products company’s stock worth $770,000 after buying an additional 1,341 shares during the period. Russell Investments Group Ltd. boosted its stake in Flowserve by 37.0% during the first quarter. Russell Investments Group Ltd. now owns 12,648 shares of the industrial products company’s stock worth $538,000 after buying an additional 3,418 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Flowserve by 12.2% during the first quarter. Allianz Asset Management GmbH now owns 93,149 shares of the industrial products company’s stock worth $4,037,000 after buying an additional 10,142 shares during the period.

NYSE:FLS traded down $2.78 during trading hours on Friday, hitting $50.22. The company had a trading volume of 2,526,509 shares, compared to its average volume of 1,303,105. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The stock has a market cap of $6.43 billion, a P/E ratio of 36.93, a PEG ratio of 1.68 and a beta of 1.55. Flowserve Corp has a 1 year low of $38.46 and a 1 year high of $56.86.

Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.07. The company had revenue of $952.72 million during the quarter, compared to analysts’ expectations of $925.33 million. Flowserve had a positive return on equity of 11.59% and a negative net margin of 1.27%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. On average, equities analysts anticipate that Flowserve Corp will post 1.71 earnings per share for the current year.

Several research firms have commented on FLS. Stifel Nicolaus lifted their price objective on shares of Flowserve from $47.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, September 11th. Northcoast Research raised shares of Flowserve from a “neutral” rating to a “buy” rating in a research note on Thursday, September 13th. DA Davidson upped their target price on Flowserve to $48.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Vertical Research downgraded Flowserve from a “hold” rating to a “sell” rating and set a $44.00 target price for the company. in a research note on Thursday, October 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Flowserve presently has an average rating of “Hold” and an average price target of $49.71.

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About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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