Stephens Inc. AR increased its holdings in shares of Flowserve Corporation (NYSE:FLS) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,038 shares of the industrial products company’s stock after purchasing an additional 3,955 shares during the period. Stephens Inc. AR’s holdings in Flowserve Corporation were worth $2,429,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Gateway Investment Advisers LLC boosted its stake in Flowserve Corporation by 0.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 30 shares during the period. CIBC Asset Management Inc boosted its stake in Flowserve Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 46 shares during the period. Federated Investors Inc. PA boosted its stake in Flowserve Corporation by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 46 shares during the period. Sentry Investment Management LLC boosted its stake in Flowserve Corporation by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock worth $432,000 after purchasing an additional 89 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in Flowserve Corporation by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 99.39% of the company’s stock.

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A number of analysts recently weighed in on FLS shares. Susquehanna Bancshares Inc upgraded shares of Flowserve Corporation from a “neutral” rating to a “positive” rating and decreased their price target for the stock from $50.00 to $46.00 in a research note on Tuesday, August 15th. BMO Capital Markets reiterated an “outperform” rating and set a $47.00 price target (down previously from $56.00) on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and issued a $50.00 target price on shares of Flowserve Corporation in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, UBS AG restated a “neutral” rating and issued a $46.00 target price (down previously from $50.00) on shares of Flowserve Corporation in a research note on Monday, July 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $44.27.

Shares of Flowserve Corporation (NYSE:FLS) traded up $0.05 during midday trading on Wednesday, hitting $38.99. 1,288,400 shares of the stock were exchanged, compared to its average volume of 1,419,040. The stock has a market capitalization of $5,086.93, a P/E ratio of 24.96, a PEG ratio of 3.15 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 current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million during the quarter, compared to the consensus estimate of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. analysts expect that Flowserve Corporation will post 1.38 EPS 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.

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

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