Teacher Retirement System of Texas Decreases Stake in Flowserve Corporation (NYSE:FLS)

Teacher Retirement System of Texas cut its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,247 shares of the industrial products company's stock after selling 126,923 shares during the period. Teacher Retirement System of Texas owned about 0.14% of Flowserve worth $8,803,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FLS. Proficio Capital Partners LLC bought a new position in Flowserve during the 4th quarter valued at $930,000. US Bancorp DE increased its position in shares of Flowserve by 5.3% during the 4th quarter. US Bancorp DE now owns 5,722 shares of the industrial products company's stock valued at $329,000 after purchasing an additional 289 shares during the last quarter. M&T Bank Corp increased its position in shares of Flowserve by 85.2% during the 4th quarter. M&T Bank Corp now owns 8,386 shares of the industrial products company's stock valued at $483,000 after purchasing an additional 3,858 shares during the last quarter. Arizona State Retirement System increased its position in shares of Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock valued at $2,193,000 after purchasing an additional 225 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Flowserve during the 4th quarter valued at $14,546,000. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the subject of several research analyst reports. Citigroup decreased their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada lifted their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $63.00.

Flowserve Price Performance

Shares of FLS traded down $3.10 during trading hours on Monday, reaching $52.19. 4,837,610 shares of the company's stock traded hands, compared to its average volume of 1,563,531. The stock has a market cap of $6.82 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $49.26 and its 200-day simple moving average is $52.19. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. Equities analysts expect that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's payout ratio is presently 39.25%.

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.