Louisiana State Employees Retirement System increased its position in shares of Flowserve Corporation (NYSE:FLS) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,100 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Flowserve Corporation were worth $376,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Flowserve Corporation by 3,165.9% in the first quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock worth $386,041,000 after buying an additional 7,728,637 shares during the period. Causeway Capital Management LLC bought a new stake in shares of Flowserve Corporation during the first quarter worth $88,532,000. Pictet Asset Management Ltd. increased its stake in shares of Flowserve Corporation by 1,673.3% in the first quarter. Pictet Asset Management Ltd. now owns 1,194,634 shares of the industrial products company’s stock worth $57,845,000 after buying an additional 1,127,266 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Flowserve Corporation by 4.5% in the first quarter. First Eagle Investment Management LLC now owns 12,543,436 shares of the industrial products company’s stock worth $607,353,000 after buying an additional 534,815 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Flowserve Corporation by 33.9% in the first quarter. Wells Fargo & Company MN now owns 1,914,308 shares of the industrial products company’s stock worth $92,691,000 after buying an additional 485,008 shares during the period.

Flowserve Corporation (NYSE FLS) traded down 0.18% during midday trading on Tuesday, reaching $39.41. 535,856 shares of the company’s stock traded hands. The company has a market cap of $5.13 billion, a P/E ratio of 43.79 and a beta of 1.46. The stock has a 50-day moving average of $44.23 and a 200 day moving average of $47.21. Flowserve Corporation has a 52-week low of $38.27 and a 52-week high of $52.10.

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

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FLS has been the subject of a number of research reports. BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Flowserve Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, April 24th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $46.00 price objective on shares of Flowserve Corporation in a report on Wednesday, May 3rd. Wolfe Research began coverage on shares of Flowserve Corporation in a report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $56.00 price objective on shares of Flowserve Corporation in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Flowserve Corporation has a consensus rating of “Hold” and an average price target of $48.60.

Flowserve Corporation Company 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 Corporation (NYSE:FLS)

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