Aperio Group LLC reduced its stake in shares of Flowserve Corporation (NYSE:FLS) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,323 shares of the industrial products company’s stock after selling 15 shares during the period. Aperio Group LLC’s holdings in Flowserve Corporation were worth $2,894,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FLS. Reilly Financial Advisors LLC raised its stake in shares of Flowserve Corporation by 3.5% in the first quarter. Reilly Financial Advisors LLC now owns 158,899 shares of the industrial products company’s stock valued at $7,694,000 after buying an additional 5,342 shares during the period. Cullinan Associates Inc. raised its stake in shares of Flowserve Corporation by 2.8% in the first quarter. Cullinan Associates Inc. now owns 21,950 shares of the industrial products company’s stock valued at $1,063,000 after buying an additional 600 shares during the period. Bank of Montreal Can raised its stake in shares of Flowserve Corporation by 2.6% in the first quarter. Bank of Montreal Can now owns 76,489 shares of the industrial products company’s stock valued at $3,702,000 after buying an additional 1,912 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Flowserve Corporation by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 40,546 shares of the industrial products company’s stock valued at $1,963,000 after buying an additional 880 shares during the period. Finally, New England Research & Management Inc. bought a new stake in shares of Flowserve Corporation during the first quarter valued at about $527,000.

Shares of Flowserve Corporation (NYSE:FLS) traded down 0.07% during mid-day trading on Friday, reaching $41.19. 1,200,847 shares of the company’s stock were exchanged. The stock 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 $5.37 billion, a price-to-earnings ratio of 45.77 and a beta of 1.46. Flowserve Corporation has a 52 week low of $39.13 and a 52 week high of $52.10.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.21. The firm had revenue of $877 million during 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%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities research analysts predict that Flowserve Corporation will post $1.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, June 21st. Flowserve Corporation’s dividend payout ratio is currently 98.70%.

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Several analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price objective (up from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BMO Capital Markets boosted their price objective on shares of Flowserve Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Royal Bank Of Canada restated a “sell” rating and issued a $46.00 price objective on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Flowserve Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, April 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Flowserve Corporation presently has an average rating of “Hold” and a consensus target price 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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