Flowserve Corporation (FLS) Stake Lowered by Robecosam AG

Robecosam AG lessened its stake in Flowserve Corporation (NYSE:FLS) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,345 shares of the industrial products company’s stock after selling 1,361 shares during the quarter. Robecosam AG owned approximately 0.12% of Flowserve Corporation worth $7,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of Flowserve Corporation in the 2nd quarter valued at approximately $458,000. TVR Capital Management LP acquired a new stake in shares of Flowserve Corporation in the 2nd quarter valued at approximately $3,197,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Flowserve Corporation by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 155,541 shares of the industrial products company’s stock valued at $7,221,000 after buying an additional 7,820 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Flowserve Corporation by 81.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,508 shares of the industrial products company’s stock valued at $1,184,000 after buying an additional 11,477 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Flowserve Corporation in the 2nd quarter valued at approximately $201,000.

FLS has been the subject of several recent analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $56.00 price objective on shares of Flowserve Corporation in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Flowserve Corporation in a report on Friday, July 14th. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price target on shares of Flowserve Corporation in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $45.00 price target on shares of Flowserve Corporation in a report on Sunday, September 3rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Flowserve Corporation in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.18.

Flowserve Corporation (FLS) traded up 1.07% on Friday, reaching $44.54. The company’s stock had a trading volume of 238,445 shares. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 55.67 and a beta of 1.47. The firm has a 50 day moving average of $41.40 and a 200 day moving average of $45.10. Flowserve Corporation has a 12 month low of $37.51 and a 12 month high of $52.10.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same period in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. Analysts anticipate that Flowserve Corporation will post $1.40 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.72%. Flowserve Corporation’s dividend payout ratio is presently 98.70%.

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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.

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

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