Pictet Asset Management Ltd. boosted its stake in shares of Flowserve Corporation (NYSE:FLS) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,310,461 shares of the industrial products company’s stock after buying an additional 115,827 shares during the period. Pictet Asset Management Ltd. owned about 1.01% of Flowserve Corporation worth $63,557,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $608,675,000 after buying an additional 449,389 shares during the period. First Eagle Investment Management LLC increased its stake 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 valued at $607,353,000 after buying an additional 534,815 shares during the period. BlackRock Inc. increased its stake 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 valued at $386,041,000 after buying an additional 7,728,637 shares during the period. State Street Corp increased its stake 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 valued at $262,883,000 after buying an additional 43,543 shares during the period. Finally, Wells Fargo & Company MN increased its stake 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 valued at $92,691,000 after buying an additional 485,008 shares during the period.

Flowserve Corporation (FLS) opened at 40.55 on Tuesday. Flowserve Corporation has a 52-week low of $39.13 and a 52-week high of $52.10. The firm 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 $5.28 billion, a PE ratio of 45.06 and a beta of 1.46.

Flowserve Corporation (NYSE:FLS) last posted its earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. The business had revenue of $877 million during the quarter, compared to the consensus estimate of $933.91 million. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The firm’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 forecast that Flowserve Corporation will post $1.52 earnings per share for the current fiscal year.

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Several equities research analysts recently issued reports on FLS shares. 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 report on Friday, July 28th. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target (up previously from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, UBS AG reiterated a “neutral” rating and set a $46.00 price target (down previously from $50.00) on shares of Flowserve Corporation in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.10.

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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