Schwab Charles Investment Management Inc. grew its holdings in shares of Flowserve Corporation (NYSE:FLS) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 643,703 shares of the industrial products company’s stock after purchasing an additional 18,219 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.49% of Flowserve Corporation worth $29,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Flowserve Corporation by 3.7% during 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 purchasing an additional 449,389 shares during the period. BlackRock Inc. increased its holdings in shares of Flowserve Corporation by 3,165.9% during the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock valued at $386,041,000 after purchasing an additional 7,728,637 shares during the period. State Street Corp increased its holdings in shares of Flowserve Corporation by 0.8% during 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 purchasing an additional 43,543 shares during the period. Causeway Capital Management LLC acquired a new position in shares of Flowserve Corporation during the first quarter valued at $88,532,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Flowserve Corporation by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 1,556,670 shares of the industrial products company’s stock valued at $75,375,000 after purchasing an additional 5,496 shares during the period.

A number of research analysts have recently commented on FLS shares. Jefferies Group LLC reissued a “buy” rating and set a $50.00 price target on shares of Flowserve Corporation in a report on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and set a $56.00 price target on shares of Flowserve Corporation in a report on Tuesday, June 27th. Cowen and Company reissued a “buy” rating and set a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and set a $45.00 price target on shares of Flowserve Corporation in a report on Sunday, September 3rd. Finally, Zacks Investment Research raised Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Flowserve Corporation has a consensus rating of “Hold” and an average target price of $47.45.

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Flowserve Corporation (NYSE FLS) opened at 40.91 on Thursday. The company’s 50-day moving average price is $40.18 and its 200-day moving average price is $45.69. Flowserve Corporation has a 12-month low of $37.51 and a 12-month high of $52.10. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 51.14 and a beta of 1.45.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.21). The company had revenue of $877.00 million during the quarter, compared to the consensus estimate of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. Equities analysts expect that Flowserve Corporation will post $1.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid a $0.19 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.86%. Flowserve Corporation’s payout ratio is 98.70%.

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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