Independent Portfolio Consultants Lowers stake in Flowserve Corp (FLS)

Flowserve Corp (FLS) : Independent Portfolio Consultants reduced its stake in Flowserve Corp by 3.58% during the most recent quarter end. The investment management company now holds a total of 32,140 shares of Flowserve Corp which is valued at $1,550,434 after selling 1,195 shares in Flowserve Corp , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Flowserve Corp makes up approximately 0.49% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in FLS in the latest quarter, The investment management firm added 747 additional shares and now holds a total of 36,232 shares of Flowserve Corp which is valued at $1,747,832. Flowserve Corp makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Eqis Capital Management boosted its stake in FLS in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 30,784 shares of Flowserve Corp which is valued at $1,485,020. Flowserve Corp makes up approx 0.09% of Eqis Capital Management’s portfolio.Washington Trust Bank boosted its stake in FLS in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 1,818 shares of Flowserve Corp which is valued at $87,700. Flowserve Corp makes up approx 0.02% of Washington Trust Bank’s portfolio.Cullinan Associates Inc boosted its stake in FLS in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 21,250 shares of Flowserve Corp which is valued at $1,025,100. Flowserve Corp makes up approx 0.09% of Cullinan Associates Inc’s portfolio.

Flowserve Corp closed down -0.47 points or -0.98% at $47.72 with 7,46,731 shares getting traded on Tuesday. Post opening the session at $48.75, the shares hit an intraday low of $47.5 and an intraday high of $48.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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