GAM Holding AG boosted its stake in shares of Flowserve Corporation (NYSE:FLS) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,822 shares of the industrial products company’s stock after buying an additional 1,306 shares during the period. GAM Holding AG’s holdings in Flowserve Corporation were worth $2,638,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. First Eagle Investment Management LLC increased its stake in shares of Flowserve Corporation by 1.9% in the second quarter. First Eagle Investment Management LLC now owns 12,782,998 shares of the industrial products company’s stock valued at $593,515,000 after buying an additional 239,562 shares during the period. Vanguard Group Inc. increased its stake in shares of Flowserve Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 12,570,744 shares of the industrial products company’s stock valued at $608,675,000 after buying an additional 449,389 shares during the period. BlackRock Inc. increased its stake in shares of Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock valued at $386,041,000 after buying an additional 7,728,637 shares during the period. State Street Corp increased its stake in shares of Flowserve Corporation by 0.8% in the first quarter. State Street Corp now owns 5,428,959 shares of the industrial products company’s stock valued at $262,883,000 after buying an additional 43,543 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Flowserve Corporation by 33.9% in the first quarter. Wells Fargo & Company MN now owns 1,914,308 shares of the industrial products company’s stock valued at $92,691,000 after buying an additional 485,008 shares during the period.

Shares of Flowserve Corporation (NYSE FLS) opened at 38.40 on Tuesday. The firm has a market cap of $5.02 billion, a P/E ratio of 48.00 and a beta of 1.46. The stock’s 50 day moving average is $42.39 and its 200-day moving average is $46.55. Flowserve Corporation has a 52-week low of $37.51 and a 52-week high of $52.10.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The company had revenue of $877 million for the quarter, compared to the consensus estimate of $933.91 million. During the same quarter last year, the business earned $0.57 EPS. Flowserve Corporation’s revenue was down 14.6% on a year-over-year basis. Equities analysts anticipate that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

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Several analysts have issued reports on FLS shares. Susquehanna Bancshares Inc raised shares of Flowserve Corporation from a “neutral” rating to a “positive” rating and lowered their price objective for the company from $50.00 to $46.00 in a research report on Tuesday, August 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $47.00 price objective (down previously from $56.00) on shares of Flowserve Corporation in a research report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Flowserve Corporation in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $53.00) on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.36.

Flowserve Corporation Company Profile

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.

Institutional Ownership by Quarter for Flowserve Corporation (NYSE:FLS)

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