Sumitomo Mitsui Asset Management Company LTD continued to hold its position in Flowserve Corporation (NYSE:FLS) during the second quarter, Holdings Channel reports. The firm owned 11,395 shares of the industrial products company’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Flowserve Corporation were worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its position in 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 period. World Asset Management Inc increased its position in 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 period. Bank of America Corp DE increased its position in 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 period. Great Lakes Advisors LLC increased its position in 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 period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in 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 period.

Flowserve Corporation (NYSE:FLS) opened at 39.12 on Thursday. Flowserve Corporation has a 52 week low of $38.95 and a 52 week high of $52.10. The firm has a market cap of $5.10 billion, a P/E ratio of 43.47 and a beta of 1.46. The company has a 50-day moving average of $44.68 and a 200 day moving average of $47.50.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The firm had revenue of $877 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities analysts predict that Flowserve Corporation will post $1.52 earnings per share for the current year.

WARNING: “Sumitomo Mitsui Asset Management Company LTD Has $529,000 Stake in Flowserve Corporation (NYSE:FLS)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/08/10/sumitomo-mitsui-asset-management-company-ltd-has-529000-stake-in-flowserve-corporation-nysefls.html.

Several research analysts have recently issued reports on FLS shares. Cowen and Company raised Flowserve Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $41.00 to $55.00 in a research note on Wednesday, April 19th. BidaskClub downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Wolfe Research raised Flowserve Corporation from an “underperform” rating to a “market perform” rating and set a $38.00 price target for the company in a research note on Monday, July 31st. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target (up previously from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Flowserve Corporation 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.

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Corporation (NYSE:FLS).

Institutional Ownership by Quarter for Flowserve Corporation (NYSE:FLS)

Receive News & Ratings for Flowserve Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve Corporation and related companies with MarketBeat.com's FREE daily email newsletter.