Stoneridge Investment Partners LLC reduced its position in shares of Flowserve Corporation (NYSE:FLS) by 78.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,157 shares of the industrial products company’s stock after selling 19,216 shares during the period. Stoneridge Investment Partners LLC’s holdings in Flowserve Corporation were worth $239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pictet Asset Management Ltd. raised its position in Flowserve Corporation by 9.7% in the second quarter. Pictet Asset Management Ltd. now owns 1,310,461 shares of the industrial products company’s stock worth $63,557,000 after buying an additional 115,827 shares during the period. Retirement Systems of Alabama raised its position in Flowserve Corporation by 0.4% in the second quarter. Retirement Systems of Alabama now owns 63,332 shares of the industrial products company’s stock worth $2,941,000 after buying an additional 241 shares during the period. YHB Investment Advisors Inc. raised its position in Flowserve Corporation by 8.0% in the second quarter. YHB Investment Advisors Inc. now owns 12,529 shares of the industrial products company’s stock worth $582,000 after buying an additional 928 shares during the period. Sei Investments Co. raised its position in Flowserve Corporation by 1.4% in the second quarter. Sei Investments Co. now owns 181,215 shares of the industrial products company’s stock worth $8,414,000 after buying an additional 2,470 shares during the period. Finally, Markel Corp raised its position in Flowserve Corporation by 29.5% in the second quarter. Markel Corp now owns 57,000 shares of the industrial products company’s stock worth $2,647,000 after buying an additional 13,000 shares during the period.

Flowserve Corporation (NYSE FLS) opened at 38.83 on Friday. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 43.14 and a beta of 1.46. Flowserve Corporation has a 1-year low of $38.27 and a 1-year high of $52.10. The firm’s 50-day moving average is $44.37 and its 200 day moving average is $47.36.

Flowserve Corporation (NYSE:FLS) last issued its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The company had revenue of $877 million during the quarter, compared to analyst estimates of $933.91 million. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue was down 14.6% compared to the same quarter last year. Equities analysts anticipate that Flowserve Corporation will post $1.49 EPS for the current fiscal year.

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A number of research analysts recently weighed in on the stock. Cowen and Company reissued a “buy” rating and issued a $50.00 target price on shares of Flowserve Corporation in a report on Thursday. Zacks Investment Research raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Flowserve Corporation in a report on Monday, July 31st. BidaskClub lowered shares of Flowserve Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, UBS AG reissued a “neutral” rating and issued a $46.00 target price (down from $50.00) on shares of Flowserve Corporation in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Flowserve Corporation currently has a consensus rating of “Hold” and a consensus price target of $48.60.

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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