Flowserve Corporation (FLS) Shares Sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board decreased its position in shares of Flowserve Corporation (NYSE:FLS) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,232 shares of the industrial products company’s stock after selling 6,667 shares during the period. State of Wisconsin Investment Board owned approximately 0.16% of Flowserve Corporation worth $9,167,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Gateway Investment Advisers LLC grew its position in shares of Flowserve Corporation by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 30 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Flowserve Corporation by 0.3% during the second quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock valued at $621,000 after purchasing an additional 46 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Flowserve Corporation by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 46 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of Flowserve Corporation by 1.0% during the second quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 89 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Flowserve Corporation by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 100 shares in the last quarter.

Shares of Flowserve Corporation (NYSE:FLS) opened at $39.08 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. Flowserve Corporation has a 12 month low of $37.51 and a 12 month high of $52.10. The firm has a market cap of $5,046.43, a P/E ratio of 24.76, a PEG ratio of 3.12 and a beta of 1.55.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million during the quarter, compared to the consensus estimate of $871.20 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. sell-side analysts expect that Flowserve Corporation will post 1.38 EPS for the current fiscal year.

A number of brokerages have recently weighed in on FLS. Zacks Investment Research lowered Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $36.00 price target (down previously from $38.00) on shares of Flowserve Corporation in a research report on Friday, November 3rd. Seaport Global Securities lowered Flowserve Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $40.00 in a research report on Friday, November 3rd. BMO Capital Markets lowered Flowserve Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Flowserve Corporation in a research report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Flowserve Corporation has a consensus rating of “Hold” and a consensus target price of $44.27.

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About Flowserve Corporation

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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