Edgepoint Investment Group buys $238,364,610 stake in Flowserve Corp (FLS)

Flowserve Corp (FLS) : Edgepoint Investment Group scooped up 48,639 additional shares in Flowserve Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 5,019,259 shares of Flowserve Corp which is valued at $238,364,610.Flowserve Corp makes up approximately 3.92% of Edgepoint Investment Group’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale reduced its stake in FLS by selling 32,500 shares or 87.46% in the most recent quarter. The Hedge Fund company now holds 4,658 shares of FLS which is valued at $218,414. Lmr Partners Llp added FLS to its portfolio by purchasing 5,045 company shares during the most recent quarter which is valued at $241,403. Flowserve Corp makes up approx 0.04% of Lmr Partners Llp’s portfolio. Boys Arnold Co Inc added FLS to its portfolio by purchasing 9,174 company shares during the most recent quarter which is valued at $443,196. Flowserve Corp makes up approx 0.07% of Boys Arnold Co Inc’s portfolio.

Flowserve Corp opened for trading at $48.64 and hit $49.64 on the upside on Friday, eventually ending the session at $49.26, with a gain of 0.84% or 0.41 points. The heightened volatility saw the trading volume jump to 13,54,075 shares. Company has a market cap of $6,423 M.

On the company’s financial health, Flowserve Corp reported $0.57 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.61. The company had revenue of $1026.20 million for the quarter, compared to analysts expectations of $1003.18 million. The company’s revenue was down -11.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.80 EPS.

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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