First Eagle Investment Management LLC increased its stake in shares of Flowserve Corporation (NYSE:FLS) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,059,375 shares of the industrial products company’s stock after acquiring an additional 276,377 shares during the quarter. Flowserve Corporation comprises approximately 1.2% of First Eagle Investment Management LLC’s holdings, making the stock its 28th largest holding. First Eagle Investment Management LLC owned 10.00% of Flowserve Corporation worth $556,199,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FLS. EdgePoint Investment Group Inc. increased its position in Flowserve Corporation by 22.2% during the second quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after acquiring an additional 1,146,084 shares during the period. Pictet Asset Management Ltd. increased its position in Flowserve Corporation by 78.5% during the third quarter. Pictet Asset Management Ltd. now owns 2,339,145 shares of the industrial products company’s stock worth $99,624,000 after acquiring an additional 1,028,684 shares during the period. Principal Financial Group Inc. increased its position in Flowserve Corporation by 171.6% during the second quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock worth $68,660,000 after acquiring an additional 934,354 shares during the period. Janus Henderson Group PLC boosted its stake in Flowserve Corporation by 2,307.4% during the second quarter. Janus Henderson Group PLC now owns 582,937 shares of the industrial products company’s stock worth $27,066,000 after buying an additional 558,723 shares in the last quarter. Finally, Honeywell International Inc. acquired a new stake in Flowserve Corporation during the third quarter worth $22,700,000.

FLS has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub downgraded shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve Corporation in a report on Friday, July 28th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $47.00 price objective (down from $56.00) on shares of Flowserve Corporation in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.27.

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Flowserve Corporation (FLS) traded up $0.13 during mid-day trading on Monday, reaching $39.13. The company’s stock had a trading volume of 1,200,500 shares, compared to its average volume of 1,414,422. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The company has a market cap of $5,111.75, a PE ratio of 25.08, a price-to-earnings-growth ratio of 3.16 and a beta of 1.55. Flowserve Corporation has a 1 year low of $37.51 and a 1 year high of $52.10.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings data 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. The firm had revenue of $883.38 million for the quarter, compared to analysts’ expectations of $871.20 million. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. equities research analysts expect that Flowserve Corporation will post 1.38 earnings per share for the current fiscal year.

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.

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

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