ING Groep NV raised its position in Flowserve Corporation (NYSE:FLS) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,233 shares of the industrial products company’s stock after buying an additional 30 shares during the period. ING Groep NV’s holdings in Flowserve Corporation were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLS. Vanguard Group Inc. raised its position in shares of Flowserve Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 12,570,744 shares of the industrial products company’s stock worth $608,675,000 after buying an additional 449,389 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Flowserve Corporation by 4.5% in the first quarter. First Eagle Investment Management LLC now owns 12,543,436 shares of the industrial products company’s stock worth $607,353,000 after buying an additional 534,815 shares in the last quarter. BlackRock Inc. raised its position in shares of Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock worth $386,041,000 after buying an additional 7,728,637 shares in the last quarter. State Street Corp raised its position in shares of Flowserve Corporation by 0.8% in the first quarter. State Street Corp now owns 5,428,959 shares of the industrial products company’s stock worth $262,883,000 after buying an additional 43,543 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Flowserve Corporation by 33.9% in the first quarter. Wells Fargo & Company MN now owns 1,914,308 shares of the industrial products company’s stock worth $92,691,000 after buying an additional 485,008 shares in the last quarter.

Flowserve Corporation (NYSE FLS) traded up 0.32% during trading on Friday, reaching $41.35. The company had a trading volume of 538,414 shares. Flowserve Corporation has a 52-week low of $39.13 and a 52-week high of $52.10. The company has a 50-day moving average price of $45.84 and a 200 day moving average price of $47.88. The stock has a market cap of $5.39 billion, a PE ratio of 45.94 and a beta of 1.46.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. The firm had revenue of $877 million for the quarter, compared to analyst estimates of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.20%. Flowserve Corporation’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, analysts anticipate that Flowserve Corporation will post $1.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 23rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.84%. Flowserve Corporation’s payout ratio is 98.70%.

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FLS has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $47.00 price objective (down previously from $56.00) on shares of Flowserve Corporation in a report on Friday, July 28th. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 target price (up from $53.00) on shares of Flowserve Corporation in a research report on Wednesday, May 3rd. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, UBS AG reiterated a “neutral” rating and set a $46.00 target price (down from $50.00) on shares of Flowserve Corporation in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Flowserve Corporation has a consensus rating of “Hold” and a consensus price target of $49.10.

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.

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

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