Teacher Retirement System of Texas Purchases 11,188 Shares of Flowserve Co. (NYSE:FLS)

Teacher Retirement System of Texas lifted its position in shares of Flowserve Co. (NYSE:FLS) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,170 shares of the industrial products company’s stock after acquiring an additional 11,188 shares during the period. Teacher Retirement System of Texas’ holdings in Flowserve were worth $17,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FLS. True Wealth Design LLC bought a new stake in Flowserve in the 3rd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve in the 3rd quarter worth approximately $29,000. UMB Bank n.a. grew its position in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares during the period. Canton Hathaway LLC bought a new stake in Flowserve in the 3rd quarter worth approximately $42,000. Finally, Brooklyn Investment Group bought a new stake in Flowserve in the 3rd quarter worth approximately $42,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. StockNews.com cut shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Robert W. Baird upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Monday, March 17th. Finally, Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Down 1.5 %

FLS opened at $50.65 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a fifty-two week low of $43.66 and a fifty-two week high of $65.08. The firm’s fifty day moving average is $57.54 and its 200 day moving average is $56.25. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last released its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. On average, sell-side analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s payout ratio is currently 39.25%.

Flowserve Company Profile

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.