UBS Asset Management Americas Inc. increased its stake in shares of Flowserve Corporation (NYSE:FLS) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,256 shares of the industrial products company’s stock after acquiring an additional 28,091 shares during the period. UBS Asset Management Americas Inc. owned about 0.30% of Flowserve Corporation worth $18,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GAM Holding AG grew its position in shares of Flowserve Corporation by 2.4% during the 2nd quarter. GAM Holding AG now owns 56,822 shares of the industrial products company’s stock valued at $2,638,000 after acquiring an additional 1,306 shares during the period. Bank of America Corp DE raised its holdings in Flowserve Corporation by 21.1% in the 1st quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock worth $25,686,000 after purchasing an additional 92,488 shares during the period. Legal & General Group Plc raised its holdings in Flowserve Corporation by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 649,800 shares of the industrial products company’s stock worth $30,170,000 after purchasing an additional 18,039 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in Flowserve Corporation in the 2nd quarter worth about $840,000. Finally, ARGA Investment Management LP raised its holdings in Flowserve Corporation by 62.9% in the 2nd quarter. ARGA Investment Management LP now owns 15,800 shares of the industrial products company’s stock worth $733,000 after purchasing an additional 6,100 shares during the period.

COPYRIGHT VIOLATION NOTICE: “UBS Asset Management Americas Inc. Has $18.12 Million Position in Flowserve Corporation (FLS)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2017/10/03/ubs-asset-management-americas-inc-has-18-12-million-position-in-flowserve-corporation-fls.html.

A number of research firms have recently commented on FLS. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $46.00 target price on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Wolfe Research started coverage on Flowserve Corporation in a research report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 target price on the stock. Cowen and Company reiterated a “buy” rating and set a $55.00 target price on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.45.

Flowserve Corporation (FLS) opened at 42.08 on Tuesday. Flowserve Corporation has a 1-year low of $37.51 and a 1-year high of $52.10. The stock has a 50 day moving average of $40.34 and a 200 day moving average of $45.25. The stock has a market capitalization of $5.50 billion, a P/E ratio of 52.60 and a beta of 1.47.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same period in the previous year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, analysts expect that Flowserve Corporation will post $1.40 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.81%. Flowserve Corporation’s payout ratio is 98.70%.

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)

Receive News & Stock Ratings for Flowserve Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve Corporation and related stocks with our FREE daily email newsletter.