SPF Beheer BV increased its position in Flowserve Corporation (NYSE:FLS) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,328,423 shares of the industrial products company’s stock after buying an additional 80,792 shares during the quarter. Flowserve Corporation accounts for 2.4% of SPF Beheer BV’s portfolio, making the stock its 29th largest position. SPF Beheer BV owned about 1.02% of Flowserve Corporation worth $56,830,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in FLS. EdgePoint Investment Group Inc. lifted its position in Flowserve Corporation by 22.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after buying an additional 1,146,084 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Flowserve Corporation by 78.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock worth $99,624,000 after purchasing an additional 1,028,684 shares during the period. Principal Financial Group Inc. increased its stake in Flowserve Corporation by 171.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock worth $68,660,000 after purchasing an additional 934,354 shares during the period. Janus Henderson Group PLC increased its stake in Flowserve Corporation by 2,307.4% in the 2nd quarter. Janus Henderson Group PLC now owns 582,937 shares of the industrial products company’s stock worth $27,066,000 after purchasing an additional 558,723 shares during the period. Finally, Honeywell International Inc. purchased a new position in Flowserve Corporation in the 3rd quarter worth approximately $22,700,000. Institutional investors own 99.39% of the company’s stock.
Several equities analysts have recently issued reports on FLS shares. Boenning Scattergood reissued a “hold” rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company reissued a “buy” rating and set a $55.00 target price on shares of Flowserve Corporation in a research note on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price target on shares of Flowserve Corporation in a research report on Tuesday, October 17th. Zacks Investment Research upgraded Flowserve Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Citigroup Inc. restated a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Flowserve Corporation in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Flowserve Corporation has an average rating of “Hold” and an average target price of $44.27.
Flowserve Corporation (NYSE:FLS) traded down $0.27 during trading hours on Tuesday, hitting $38.94. The stock had a trading volume of 1,550,400 shares, compared to its average volume of 1,419,623. The company has a market cap of $5,110.00, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.17 and a beta of 1.55. Flowserve Corporation has a 1-year low of $37.51 and a 1-year high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30.
Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The firm had revenue of $883.38 million for the quarter, compared to the consensus estimate of $871.20 million. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. analysts expect that Flowserve Corporation will post 1.38 earnings per share for the current year.
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About Flowserve Corporation
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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