Independent Portfolio Consultants Lowers stake in Flowserve Corp (FLS)

Flowserve Corp (FLS) : Independent Portfolio Consultants reduced its stake in Flowserve Corp by 18.81% during the most recent quarter end. The investment management company now holds a total of 33,335 shares of Flowserve Corp which is valued at $1,610,414 after selling 7,725 shares in Flowserve Corp , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Flowserve Corp makes up approximately 0.49% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors reduced its stake in FLS by selling 400 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 76,445 shares of FLS which is valued at $3,693,058. Flowserve Corp makes up approx 0.05% of Nisa Investment Advisors’s portfolio.Neville Rodie Shaw Inc reduced its stake in FLS by selling 300 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 30,380 shares of FLS which is valued at $1,449,430. Flowserve Corp makes up approx 0.17% of Neville Rodie Shaw Inc’s portfolio.Creative Planning reduced its stake in FLS by selling 150 shares or 5.2% in the most recent quarter. The Hedge Fund company now holds 2,732 shares of FLS which is valued at $130,344.

Flowserve Corp closed down -0.25 points or -0.51% at $48.31 with 12,71,170 shares getting traded on Monday. Post opening the session at $48.39, the shares hit an intraday low of $48.11 and an intraday high of $48.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Flowserve Corp reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.43. The company had revenue of $947.25 million for the quarter, compared to analysts expectations of $870.60 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.58 EPS.

Many Wall Street Analysts have commented on Flowserve Corp. Flowserve Corp was Initiated by KeyBanc Capital Mkts to “Sector Weight” on May 10, 2016. Company shares were Reiterated by Stifel on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $51 .

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufactures precision-engineered flow control equipment integral to the movement control and protection of the flow of materials. The Company operates through three segments: Engineered Product Division (EPD) Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs manufactures distributes and services engineered pumps and pump systems mechanical seals auxiliary systems replacement parts and related equipment. Its IPD designs manufactures distributes and services pre-configured engineered pumps and pump systems including submersible motors for industrial markets. The Company’s FCD designs manufactures distributes and services a portfolio of industrial valve and automation solutions including isolation and control valves actuation controls and related equipment.

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