Teachers Retirement System of The State of Kentucky decreased its stake in Flowserve Corporation (NYSE:FLS) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the industrial products company’s stock after selling 2,700 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Flowserve Corporation were worth $751,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of FLS. UBS Asset Management Americas Inc. increased its position in shares of Flowserve Corporation by 1.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 330,979 shares of the industrial products company’s stock valued at $15,906,000 after buying an additional 3,736 shares during the period. Bank of America Corp DE increased its position in shares of Flowserve Corporation by 21.1% in the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock valued at $25,686,000 after buying an additional 92,488 shares during the period. World Asset Management Inc increased its position in shares of Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock valued at $716,000 after buying an additional 1,989 shares during the period. Great Lakes Advisors LLC increased its position in shares of Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock valued at $6,426,000 after buying an additional 51,097 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Flowserve Corporation by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,682 shares of the industrial products company’s stock valued at $469,000 after buying an additional 2,204 shares during the period.

Shares of Flowserve Corporation (NYSE:FLS) traded down 0.70% during trading on Friday, reaching $38.12. 1,382,578 shares of the company’s stock were exchanged. The company has a 50 day moving average of $43.46 and a 200 day moving average of $46.92. The firm has a market capitalization of $4.98 billion, a P/E ratio of 47.65 and a beta of 1.46. Flowserve Corporation has a 52-week low of $38.11 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877 million during the quarter, compared to analyst estimates of $933.91 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts anticipate that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

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Several research analysts have weighed in on the company. Wolfe Research assumed coverage on Flowserve Corporation in a report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price target for the company. Zacks Investment Research downgraded Flowserve Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday. Royal Bank Of Canada reiterated a “sell” rating and issued a $46.00 price target on shares of Flowserve Corporation in a report on Wednesday, May 3rd. BMO Capital Markets boosted their price target on Flowserve Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Finally, BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.36.

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.

Institutional Ownership by Quarter for Flowserve Corporation (NYSE:FLS)

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