American International Group Inc. decreased its position in Flowserve Corp (NYSE:FLS) by 14.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,970 shares of the industrial products company’s stock after selling 7,353 shares during the quarter. American International Group Inc.’s holdings in Flowserve were worth $1,830,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FLS. Creative Planning increased its stake in Flowserve by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 141 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Flowserve by 1.3% in 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 during the last quarter. CIBC Asset Management Inc increased its stake in Flowserve by 0.3% in 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 during the last quarter. Retirement Systems of Alabama increased its stake in Flowserve by 0.4% in the second quarter. Retirement Systems of Alabama now owns 63,332 shares of the industrial products company’s stock valued at $2,941,000 after purchasing an additional 241 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Flowserve by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,703 shares of the industrial products company’s stock valued at $29,888,000 after purchasing an additional 18,219 shares during the last quarter.

Shares of Flowserve Corp (FLS) traded down $0.54 on Tuesday, hitting $41.59. 1,981,200 shares of the stock were exchanged, compared to its average volume of 1,414,100. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $5,503.65, a price-to-earnings ratio of 27.01, a PEG ratio of 3.41 and a beta of 1.53. Flowserve Corp has a twelve month low of $37.51 and a twelve month high of $52.10.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. analysts expect that Flowserve Corp will post 1.38 earnings per share for the current fiscal year.

Several brokerages have commented on FLS. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price target on shares of Flowserve in a research note on Wednesday, October 4th. BMO Capital Markets lowered shares of Flowserve from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Citigroup reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $36.00 price target (down from $38.00) on shares of Flowserve in a research note on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Flowserve presently has a consensus rating of “Hold” and an average target price of $43.17.

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Flowserve 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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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