Earnest Partners Reduces $6M in Flowserve Corporation ($FLS)
Key Points
- Earnest Partners changed its Flowserve Corporation ($FLS) stake by 2.8% last quarter, cutting to 2,727,471 shares worth $212.93 million.
- Wall Street's consensus rating on $FLS is Buy and an average price target of $90.00.
- $FLS last traded around $78.07.
Earnest Partners trimmed its position in Flowserve Corporation ($FLS) by 2.8% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,727,471 shares of Flowserve Corporation after selling 78,833 shares during the quarter. Earnest Partners's holdings in Flowserve Corporation were worth $212.93 million as of its most recent filing.
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About Flowserve Corporation
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Flowserve Pumps Division (FPD) and Flow Control Division (FCD). It offers custom engineered pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems, replacement parts, and related services; and manufactures gas-lubricated mechanical seals for gas pipelines and in the energy production and process markets. The company also provides equipment services, including installation, commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions. In addition, it offers engineered-to-order and configured-to-order isolation valves, control valves, valve automation products and related services and equipment; and actuators, positioners, and switches used to control, direct and manage the flow of liquids, gases and multi-phase fluids, and are a part of any flow control system. Further, the company provides equipment maintenance services for flow control systems, including advanced diagnostics, repair, installation, commissioning, retrofit programs, and field machining capabilities. It sells its products under the Valtek, Argus, Worcester, Limitorque, and Durco brands. The company serves oil and gas, power generation, chemical, water management and general industries, including pharmaceuticals, mining, food and beverage, steel, and pulp and paper industries. It distributes its products through direct sales, distributors, and sales representatives. Flowserve Corporation was founded in 1790 and is headquartered in Irving, Texas.
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