Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,958 Shares of Flowserve Corp (FLS)

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Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Flowserve Corp (NYSE:FLS) by 21.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,738 shares of the industrial products company’s stock after selling 2,958 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Flowserve were worth $587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its position in shares of Flowserve by 4.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,533,419 shares of the industrial products company’s stock worth $587,150,000 after buying an additional 624,832 shares in the last quarter. FMR LLC grew its position in shares of Flowserve by 0.5% during the 2nd quarter. FMR LLC now owns 9,337,955 shares of the industrial products company’s stock worth $377,253,000 after buying an additional 48,606 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Flowserve by 0.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,818,792 shares of the industrial products company’s stock worth $113,879,000 after buying an additional 25,172 shares in the last quarter. Bank of America Corp DE grew its position in shares of Flowserve by 42.9% during the 2nd quarter. Bank of America Corp DE now owns 2,757,648 shares of the industrial products company’s stock worth $111,409,000 after buying an additional 827,459 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Flowserve by 0.7% during the 3rd quarter. Gabelli Funds LLC now owns 1,659,700 shares of the industrial products company’s stock worth $90,769,000 after buying an additional 11,000 shares in the last quarter.

Shares of FLS stock opened at $45.40 on Friday. Flowserve Corp has a 1-year low of $38.79 and a 1-year high of $56.86. The stock has a market cap of $6.08 billion, a P/E ratio of 33.38, a P/E/G ratio of 1.55 and a beta of 1.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.60 and a current ratio of 2.24.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Flowserve had a positive return on equity of 11.66% and a negative net margin of 1.27%. The company had revenue of $952.72 million for the quarter, compared to the consensus estimate of $925.33 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Flowserve Corp will post 1.74 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on FLS shares. Zacks Investment Research raised Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Tuesday, September 11th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Flowserve in a research report on Thursday, November 8th. Stifel Nicolaus reaffirmed a “hold” rating and set a $47.00 price objective (up previously from $43.00) on shares of Flowserve in a research report on Monday, August 13th. Citigroup raised their price objective on Flowserve from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $51.00.

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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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