Bank of New York Mellon Corp reduced its position in Flowserve Corporation (NYSE:FLS) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,511,852 shares of the industrial products company’s stock after selling 44,818 shares during the period. Bank of New York Mellon Corp owned 1.16% of Flowserve Corporation worth $70,195,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FLS. Huntington National Bank raised its position in Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock worth $101,000 after buying an additional 480 shares in the last quarter. Creative Planning raised its position in Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock worth $112,000 after buying an additional 141 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Flowserve Corporation during the first quarter worth approximately $116,000. Ameritas Investment Partners Inc. purchased a new position in Flowserve Corporation during the first quarter worth approximately $151,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in Flowserve Corporation by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares in the last quarter.

Shares of Flowserve Corporation (NYSE FLS) opened at 38.66 on Wednesday. The firm has a 50-day moving average of $42.39 and a 200-day moving average of $46.55. The stock has a market cap of $5.05 billion, a P/E ratio of 48.33 and a beta of 1.46. Flowserve Corporation has a 52-week low of $37.51 and a 52-week high of $52.10.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.68% and a return on equity of 13.32%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities analysts expect that Flowserve Corporation will post $1.43 EPS for the current fiscal year.

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A number of equities analysts recently commented on FLS shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Flowserve Corporation in a research note on Friday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Flowserve Corporation in a research note on Tuesday, June 27th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Flowserve Corporation in a research note on Friday, July 28th. Finally, BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $48.36.

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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