Capstone Asset Management Co. reduced its stake in shares of Flowserve Corporation (NYSE:FLS) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,490 shares of the industrial products company’s stock after selling 489 shares during the period. Capstone Asset Management Co.’s holdings in Flowserve Corporation were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FLS. UBS Asset Management Americas Inc. increased its stake in shares of Flowserve Corporation by 1.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 330,979 shares of the industrial products company’s stock valued at $15,906,000 after buying an additional 3,736 shares during the last quarter. World Asset Management Inc increased its stake in shares of Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock valued at $716,000 after buying an additional 1,989 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Flowserve Corporation by 21.1% in the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock valued at $25,686,000 after buying an additional 92,488 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock valued at $6,426,000 after buying an additional 51,097 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Flowserve Corporation by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,682 shares of the industrial products company’s stock valued at $469,000 after buying an additional 2,204 shares during the last quarter.

Shares of Flowserve Corporation (NYSE:FLS) traded down 0.82% on Thursday, hitting $38.80. The stock had a trading volume of 422,958 shares. The company’s 50 day moving average price is $44.68 and its 200-day moving average price is $47.50. Flowserve Corporation has a 12 month low of $38.66 and a 12 month high of $52.10. The company has a market cap of $5.06 billion, a P/E ratio of 43.11 and a beta of 1.46.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.21. The company 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 quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. On average, analysts expect that Flowserve Corporation will post $1.49 earnings per share for the current year.

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A number of brokerages recently commented on FLS. Cowen and Company upgraded Flowserve Corporation from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $55.00 in a report on Wednesday, April 19th. BidaskClub downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Wolfe Research upgraded Flowserve Corporation from an “underperform” rating to a “market perform” rating and set a $38.00 target price for the company in a report on Monday, July 31st. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $55.00 target price (up previously from $53.00) on shares of Flowserve Corporation in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.60.

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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