Flowserve Corporation (FLS) Shares Bought by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. raised its stake in Flowserve Corporation (NYSE:FLS) by 78.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,339,145 shares of the industrial products company’s stock after purchasing an additional 1,028,684 shares during the quarter. Pictet Asset Management Ltd. owned about 1.79% of Flowserve Corporation worth $99,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. BlackRock Inc. boosted its holdings in shares of Flowserve Corporation by 3,165.9% in the 1st 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 last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Flowserve Corporation by 22.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock valued at $292,855,000 after purchasing an additional 1,146,084 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Flowserve Corporation by 171.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock valued at $68,660,000 after purchasing an additional 934,354 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Flowserve Corporation by 2,307.4% in the 2nd quarter. Janus Henderson Group PLC now owns 582,937 shares of the industrial products company’s stock valued at $27,066,000 after purchasing an additional 558,723 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Flowserve Corporation by 18.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,257,999 shares of the industrial products company’s stock valued at $104,838,000 after purchasing an additional 343,691 shares during the last quarter.

Flowserve Corporation (FLS) traded up 0.39% during trading on Tuesday, hitting $44.05. 207,501 shares of the company traded hands. The firm has a 50 day moving average of $43.15 and a 200 day moving average of $44.76. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The firm has a market cap of $5.75 billion, a P/E ratio of 55.06 and a beta of 1.47.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.73%. Flowserve Corporation’s dividend payout ratio (DPR) is 98.70%.

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A number of brokerages have weighed in on FLS. BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Wolfe Research began coverage on shares of Flowserve Corporation in a report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price target on the stock. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve Corporation in a report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Flowserve Corporation has a consensus rating of “Hold” and a consensus target price of $47.55.

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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