Russell Investments Group Ltd. Sells 2,221 Shares of Flowserve Corp (NYSE:FLS)

Russell Investments Group Ltd. cut its holdings in Flowserve Corp (NYSE:FLS) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 203,240 shares of the industrial products company’s stock after selling 2,221 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Flowserve worth $9,495,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Flowserve by 3.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 129,752 shares of the industrial products company’s stock valued at $5,858,000 after purchasing an additional 4,849 shares during the last quarter. Woodstock Corp lifted its stake in shares of Flowserve by 0.8% in the 2nd quarter. Woodstock Corp now owns 32,550 shares of the industrial products company’s stock valued at $1,715,000 after purchasing an additional 250 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Flowserve by 17.2% in the 2nd quarter. DNB Asset Management AS now owns 29,039 shares of the industrial products company’s stock valued at $1,530,000 after purchasing an additional 4,260 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in Flowserve by 1,211.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 682 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 630 shares during the period. Finally, McCollum Christoferson Group LLC raised its holdings in Flowserve by 2.3% in the 2nd quarter. McCollum Christoferson Group LLC now owns 75,932 shares of the industrial products company’s stock worth $4,001,000 after acquiring an additional 1,715 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FLS opened at $48.40 on Thursday. The company has a market capitalization of $6.41 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.70. Flowserve Corp has a one year low of $35.88 and a one year high of $54.16. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.29 and a quick ratio of 1.63. The company’s fifty day moving average price is $47.02 and its 200 day moving average price is $47.87.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. Flowserve had a net margin of 6.39% and a return on equity of 16.21%. The company had revenue of $996.54 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Analysts anticipate that Flowserve Corp will post 2.19 earnings per share for the current year.

FLS has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Flowserve from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Credit Suisse Group upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Friday, August 2nd. TheStreet upgraded shares of Flowserve from a “c+” rating to a “b” rating in a report on Wednesday, October 30th. ValuEngine downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley dropped their target price on shares of Flowserve from $47.00 to $43.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Flowserve has an average rating of “Hold” and a consensus target price of $51.17.

About Flowserve

Flowserve Corporation designs, develops, 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).

Further Reading: Dividend Yield

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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