DNB Asset Management AS grew its position in shares of Flowserve Corp (NYSE:FLS) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,387 shares of the industrial products company’s stock after buying an additional 2,348 shares during the quarter. DNB Asset Management AS’s holdings in Flowserve were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its holdings in Flowserve by 6.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 17,038,215 shares of the industrial products company’s stock worth $897,744,000 after purchasing an additional 1,021,557 shares during the period. Vanguard Group Inc. raised its holdings in Flowserve by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,158,061 shares of the industrial products company’s stock worth $745,988,000 after purchasing an additional 43,000 shares during the period. BlackRock Inc. raised its holdings in Flowserve by 1.6% in the 2nd quarter. BlackRock Inc. now owns 8,644,875 shares of the industrial products company’s stock worth $455,498,000 after purchasing an additional 135,969 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Flowserve by 49.6% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,717,846 shares of the industrial products company’s stock worth $143,203,000 after purchasing an additional 901,087 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Flowserve by 11.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,538,889 shares of the industrial products company’s stock worth $133,774,000 after purchasing an additional 256,887 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:FLS opened at $46.56 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.28 and a debt-to-equity ratio of 0.88. The business’s 50-day simple moving average is $45.51 and its two-hundred day simple moving average is $47.83. The stock has a market cap of $6.07 billion, a PE ratio of 26.61, a P/E/G ratio of 1.44 and a beta of 1.68. Flowserve Corp has a 52 week low of $35.88 and a 52 week high of $55.42.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The business had revenue of $990.08 million for the quarter, compared to analysts’ expectations of $1 billion. Flowserve had a return on equity of 15.75% and a net margin of 5.41%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Sell-side analysts anticipate that Flowserve Corp will post 2.18 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 20th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. Flowserve’s dividend payout ratio is presently 43.43%.

A number of equities analysts recently commented on FLS shares. Credit Suisse Group raised Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Citigroup decreased their target price on Flowserve from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. ValuEngine cut Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TheStreet cut Flowserve from a “b-” rating to a “c+” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $50.56.

Flowserve Company Profile

Flowserve Corporation designs, develops, 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).

See Also: Growth Stocks

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Corp (NYSE:FLS).

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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