BRYN MAWR TRUST Co Lowers Holdings in Flowserve Corporation (FLS)

BRYN MAWR TRUST Co lowered its holdings in shares of Flowserve Corporation (NYSE:FLS) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,652 shares of the industrial products company’s stock after selling 315 shares during the quarter. BRYN MAWR TRUST Co’s holdings in Flowserve Corporation were worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its holdings in shares of Flowserve Corporation by 1.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 12,782,998 shares of the industrial products company’s stock worth $593,515,000 after acquiring an additional 239,562 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Flowserve Corporation by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 12,570,744 shares of the industrial products company’s stock worth $608,675,000 after acquiring an additional 449,389 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Flowserve Corporation by 2.8% in the 2nd quarter. BlackRock Inc. now owns 8,194,771 shares of the industrial products company’s stock worth $380,483,000 after acquiring an additional 222,016 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Flowserve Corporation by 22.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after acquiring an additional 1,146,084 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Flowserve Corporation by 0.8% in the 1st quarter. State Street Corp now owns 5,428,959 shares of the industrial products company’s stock worth $262,883,000 after acquiring an additional 43,543 shares during the last quarter.

Flowserve Corporation (NYSE FLS) traded up 0.31% on Tuesday, reaching $41.53. 72,291 shares of the company’s stock were exchanged. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 51.91 and a beta of 1.45. The firm has a 50 day moving average of $39.70 and a 200-day moving average of $45.51.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The business had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts forecast that Flowserve Corporation will post $1.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.84%. Flowserve Corporation’s payout ratio is 98.70%.

FLS has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $50.00 target price on shares of Flowserve Corporation in a report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and issued a $56.00 target price on shares of Flowserve Corporation in a report on Tuesday, June 27th. Cowen and Company restated a “buy” rating and issued a $55.00 target price on shares of Flowserve Corporation in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 target price on shares of Flowserve Corporation in a report on Sunday, September 3rd. Finally, Zacks Investment Research upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.45.

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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.

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

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