Aperio Group LLC Has $2.87 Million Stake in Flowserve Corp (FLS)

Aperio Group LLC lessened its holdings in shares of Flowserve Corp (NYSE:FLS) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,550 shares of the industrial products company’s stock after selling 1,925 shares during the period. Aperio Group LLC’s holdings in Flowserve were worth $2,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Flowserve by 10.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,961 shares of the industrial products company’s stock valued at $561,000 after purchasing an additional 1,313 shares during the last quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Flowserve by 11.5% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 13,580 shares of the industrial products company’s stock valued at $549,000 after purchasing an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Flowserve by 9.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 19,377 shares of the industrial products company’s stock valued at $783,000 after acquiring an additional 1,614 shares during the period. GHP Investment Advisors Inc. increased its position in shares of Flowserve by 7.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 26,200 shares of the industrial products company’s stock valued at $1,433,000 after acquiring an additional 1,928 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Flowserve by 30.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 8,889 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 2,095 shares during the period.

Several equities analysts recently issued reports 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 report on Friday, July 13th. Morgan Stanley started coverage on Flowserve in a research report on Monday, August 20th. They issued an “equal weight” rating and a $50.00 target price on the stock. Zacks Investment Research raised Flowserve from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Credit Suisse Group started coverage on Flowserve in a research report on Friday, October 12th. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Vertical Research downgraded Flowserve from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Flowserve presently has a consensus rating of “Hold” and a consensus price target of $48.86.

NYSE FLS opened at $47.36 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25. Flowserve Corp has a 1 year low of $38.38 and a 1 year high of $56.86. The firm has a market capitalization of $6.18 billion, a P/E ratio of 34.82, a PEG ratio of 1.61 and a beta of 1.55.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. 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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