Nuance Investments buys $4,124,952 stake in Flowserve Corp (FLS)

Flowserve Corp (FLS) : Nuance Investments scooped up 13,098 additional shares in Flowserve Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 88,919 shares of Flowserve Corp which is valued at $4,124,952.Flowserve Corp makes up approximately 0.43% of Nuance Investments’s portfolio.

Other Hedge Funds, Including , Evercore Wealth Management reduced its stake in FLS by selling 675 shares or 28.8% in the most recent quarter. The Hedge Fund company now holds 1,669 shares of FLS which is valued at $77,425. John G Ullman Associates Inc added FLS to its portfolio by purchasing 10,400 company shares during the most recent quarter which is valued at $495,872. Flowserve Corp makes up approx 0.10% of John G Ullman Associates Inc’s portfolio.Ibm Retirement Fund reduced its stake in FLS by selling 388 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 13,128 shares of FLS which is valued at $625,943. Flowserve Corp makes up approx 0.02% of Ibm Retirement Fund’s portfolio.Nordea Investment Management Ab boosted its stake in FLS in the latest quarter, The investment management firm added 20,660 additional shares and now holds a total of 89,731 shares of Flowserve Corp which is valued at $4,300,807. Flowserve Corp makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.

Flowserve Corp opened for trading at $47.17 and hit $47.67 on the upside on Monday, eventually ending the session at $47.48, with a gain of 1.26% or 0.59 points. The heightened volatility saw the trading volume jump to 10,73,319 shares. Company has a market cap of $6,190 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.

Many Wall Street Analysts have commented on Flowserve Corp. Flowserve Corp was Initiated by KeyBanc Capital Mkts to “Sector Weight” on May 10, 2016.

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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