Valicenti Advisory Services Inc Exits Position in Flowserve Corp (FLS)

Flowserve Corp (FLS) : Valicenti Advisory Services Inc has sold out all of its stake in Flowserve Corp during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 7,550 shares of Flowserve Corp which is valued at $373,348.

Other Hedge Funds, Including , Strs Ohio boosted its stake in FLS in the latest quarter, The investment management firm added 2,274 additional shares and now holds a total of 4,097 shares of Flowserve Corp which is valued at $202,597.Cornerstone Advisors reduced its stake in FLS by selling 59 shares or 33.15% in the most recent quarter. The Hedge Fund company now holds 119 shares of FLS which is valued at $5,885. Flowserve Corp makes up approx 0.01% of Cornerstone Advisors’s portfolio.Simplex Trading reduced its stake in FLS by selling 4,385 shares or 79.83% in the most recent quarter. The Hedge Fund company now holds 1,108 shares of FLS which is valued at $53,106. Flowserve Corp makes up approx 0.01% of Simplex Trading’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.

Flowserve Corp closed down -1.55 points or -3.14% at $47.85 with 26,93,335 shares getting traded on Friday. Post opening the session at $49.13, the shares hit an intraday low of $47.18 and an intraday high of $49.15 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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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