World Asset Management Inc decreased its position in Flowserve Corporation (NYSE:FLS) by 17.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,214 shares of the industrial products company’s stock after selling 2,563 shares during the period. World Asset Management Inc’s holdings in Flowserve Corporation were worth $567,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted 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 worth $15,906,000 after buying an additional 3,736 shares during the period. Teachers Advisors LLC raised its position in shares of Flowserve Corporation by 5.4% in the fourth quarter. Teachers Advisors LLC now owns 150,389 shares of the industrial products company’s stock worth $7,226,000 after buying an additional 7,763 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Flowserve Corporation by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Flowserve Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 116,125 shares of the industrial products company’s stock worth $5,623,000 after buying an additional 3,261 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Flowserve Corporation by 1.9% in the first quarter. CENTRAL TRUST Co now owns 6,546 shares of the industrial products company’s stock worth $317,000 after buying an additional 121 shares in the last quarter.

Flowserve Corporation (NYSE:FLS) opened at 39.12 on Thursday. Flowserve Corporation has a 12 month low of $38.95 and a 12 month high of $52.10. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 43.47 and a beta of 1.46. The stock’s 50 day moving average price is $44.68 and its 200 day moving average price is $47.50.

Flowserve Corporation (NYSE:FLS) last issued its earnings results 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. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The firm had revenue of $877 million during the quarter, compared to the consensus estimate of $933.91 million. During the same period last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. Equities research analysts anticipate that Flowserve Corporation will post $1.52 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “World Asset Management Inc Sells 2,563 Shares of Flowserve Corporation (FLS)” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/10/world-asset-management-inc-sells-2563-shares-of-flowserve-corporation-fls.html.

A number of equities analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $55.00 target price (up from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. BMO Capital Markets upped their target price on Flowserve Corporation from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “sell” rating and issued a $46.00 target price on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research upgraded Flowserve Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, April 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company has a consensus 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.