Chevy Chase Trust Holdings Inc. bought a new position in shares of Flowserve Corp (NYSE:FLS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 112,636 shares of the industrial products company’s stock, valued at approximately $4,550,000. Chevy Chase Trust Holdings Inc. owned 0.09% of Flowserve at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cigna Investments Inc. New acquired a new stake in Flowserve during the first quarter worth approximately $205,000. 180 Wealth Advisors LLC acquired a new stake in Flowserve during the first quarter worth approximately $290,000. Contravisory Investment Management Inc. acquired a new stake in Flowserve during the second quarter worth approximately $323,000. Gateway Investment Advisers LLC acquired a new stake in Flowserve during the second quarter worth approximately $328,000. Finally, Rampart Investment Management Company LLC grew its stake in Flowserve by 413.3% during the first quarter. Rampart Investment Management Company LLC now owns 8,387 shares of the industrial products company’s stock worth $363,000 after purchasing an additional 6,753 shares during the period.

Shares of Flowserve stock opened at $50.02 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. Flowserve Corp has a 52 week low of $37.51 and a 52 week high of $51.55. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 1.83 and a beta of 1.47.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.08. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The firm had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $923.89 million. During the same quarter last year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. research analysts predict that Flowserve Corp will post 1.65 EPS for the current year.

Several research firms recently commented on FLS. Zacks Investment Research cut Flowserve from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 18th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Royal Bank of Canada raised their target price on Flowserve from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Friday. Stifel Nicolaus decreased their target price on Flowserve from $44.00 to $43.00 and set a “hold” rating for the company in a research note on Monday, May 14th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $47.00 target price on shares of Flowserve in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. Flowserve currently has a consensus rating of “Hold” and an average target price of $45.80.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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