Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in Flowserve Corporation (NYSE:FLS) by 27.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,360 shares of the industrial products company’s stock after selling 7,283 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Flowserve Corporation were worth $825,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FLS. Huntington National Bank increased its stake 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 valued at $101,000 after acquiring an additional 480 shares during the last quarter. Creative Planning increased its stake in Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 141 shares during the last quarter. Federated Investors Inc. PA increased its stake in Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares during the last quarter. Evercore Wealth Management LLC increased its stake in Flowserve Corporation by 41.2% in the second quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 756 shares during the last quarter. Finally, Sciencast Management LP bought a new position in Flowserve Corporation in the second quarter valued at approximately $201,000.

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Flowserve Corporation (NYSE:FLS) opened at $39.08 on Wednesday. The company has a market cap of $5,143.10, a price-to-earnings ratio of 25.24, a PEG ratio of 3.18 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. Flowserve Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $52.10.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. Flowserve Corporation’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. research analysts forecast that Flowserve Corporation will post 1.38 EPS for the current year.

FLS has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Flowserve Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Cowen and Company restated a “buy” rating and issued a $50.00 target price on shares of Flowserve Corporation in a research report on Thursday, August 10th. UBS AG restated a “neutral” rating and issued a $46.00 target price (down previously from $50.00) on shares of Flowserve Corporation in a research report on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $47.00 target price (down previously from $56.00) on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, BidaskClub lowered shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.27.

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.

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

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