Teacher Retirement System of Texas Grows Stock Position in Flowserve Co. (NYSE:FLS)

Teacher Retirement System of Texas raised its position in Flowserve Co. (NYSE:FLS - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,170 shares of the industrial products company's stock after acquiring an additional 11,188 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.23% of Flowserve worth $17,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLS. True Wealth Design LLC acquired a new position in shares of Flowserve in the third quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Flowserve in the third quarter worth about $29,000. UMB Bank n.a. increased its holdings in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock worth $41,000 after buying an additional 278 shares in the last quarter. Canton Hathaway LLC bought a new position in Flowserve in the third quarter valued at about $42,000. Finally, Brooklyn Investment Group bought a new position in Flowserve in the 3rd quarter valued at approximately $42,000. Institutional investors own 93.93% of the company's stock.

Flowserve Stock Down 2.2 %

FLS traded down $1.15 during trading on Wednesday, hitting $51.29. The stock had a trading volume of 1,138,085 shares, compared to its average volume of 1,162,692. The stock has a 50 day simple moving average of $57.27 and a two-hundred day simple moving average of $56.46. Flowserve Co. has a twelve month low of $43.66 and a twelve month high of $65.08. The company has a market capitalization of $6.76 billion, a PE ratio of 23.97, a PEG ratio of 1.35 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

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Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of analyst reports. The Goldman Sachs Group raised shares of Flowserve from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, TD Cowen boosted their price objective on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.60.

About Flowserve

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. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.