Flowserve Corp (FLS) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in shares of Flowserve Corp (NYSE:FLS) by 22.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,573 shares of the industrial products company’s stock after selling 1,887 shares during the period. Advisors Asset Management Inc.’s holdings in Flowserve were worth $266,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. lifted its stake in shares of Flowserve by 17.5% in the 2nd quarter. GHP Investment Advisors Inc. now owns 24,272 shares of the industrial products company’s stock valued at $981,000 after acquiring an additional 3,620 shares during the last quarter. Andra AP fonden bought a new stake in shares of Flowserve in the 2nd quarter valued at about $3,790,000. California Public Employees Retirement System lifted its stake in shares of Flowserve by 15.1% in the 2nd quarter. California Public Employees Retirement System now owns 361,856 shares of the industrial products company’s stock valued at $14,619,000 after acquiring an additional 47,381 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of Flowserve by 20.4% in the 2nd quarter. Putnam Investments LLC now owns 37,728 shares of the industrial products company’s stock valued at $1,524,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in shares of Flowserve in the 2nd quarter valued at about $5,393,000.

A number of equities research analysts have recently weighed in on FLS shares. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 target price on shares of Flowserve in a research note on Friday, July 13th. Zacks Investment Research lowered Flowserve from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Robert W. Baird reissued a “hold” rating and issued a $47.00 target price on shares of Flowserve in a research note on Friday, July 20th. ValuEngine raised Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Finally, Oppenheimer reissued a “hold” rating on shares of Flowserve in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.71.

Shares of NYSE:FLS opened at $50.22 on Friday. Flowserve Corp has a 1 year low of $38.46 and a 1 year high of $56.86. The stock has a market cap of $6.31 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.65 and a beta of 1.55. The company has a current ratio of 2.25, a quick ratio of 1.61 and a debt-to-equity ratio of 0.89.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The company had revenue of $952.72 million for the quarter, compared to the consensus estimate of $925.33 million. During the same quarter in the previous year, the business earned $0.37 EPS. Flowserve’s revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that Flowserve Corp will post 1.7 earnings per share for the current fiscal year.

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Flowserve Company Profile

Flowserve Corporation designs, 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).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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