Teachers Retirement System of The State of Kentucky reduced its position in shares of Flowserve Corp (NYSE:FLS) by 17.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,750 shares of the industrial products company’s stock after selling 2,750 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Flowserve were worth $697,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Flowserve by 4.5% during the second quarter. EdgePoint Investment Group Inc. now owns 14,533,419 shares of the industrial products company’s stock worth $587,150,000 after purchasing an additional 624,832 shares during the period. FMR LLC lifted its holdings in Flowserve by 0.5% in the second 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 during the period. Gamco Investors INC. ET AL lifted its holdings in Flowserve by 0.9% in the second 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 during the period. Bank of America Corp DE lifted its holdings in Flowserve by 42.9% in the second 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 during the period. Finally, Gabelli Funds LLC lifted its holdings in Flowserve by 0.7% in the third 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 during the period.

Several analysts have commented on FLS shares. Zacks Investment Research upgraded shares of Flowserve from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, September 11th. BMO Capital Markets raised their price objective on shares of Flowserve from $42.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. Northcoast Research restated a “neutral” rating on shares of Flowserve in a report on Thursday, August 9th. Oppenheimer restated a “hold” rating on shares of Flowserve in a report on Wednesday, August 8th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Flowserve in a report on Thursday, November 8th. Two analysts have 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 presently has a consensus rating of “Hold” and an average target price of $50.00.

Shares of NYSE FLS opened at $46.44 on Wednesday. Flowserve Corp has a fifty-two week low of $38.79 and a fifty-two week high of $56.86. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.56. The company has a quick ratio of 1.60, a current ratio of 2.24 and a debt-to-equity ratio of 0.88.

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

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About Flowserve

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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