Teacher Retirement System of Texas Cuts Holdings in Flowserve Corporation (NYSE:FLS)

Teacher Retirement System of Texas cut its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 41.3% during the 1st quarter, according to 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 quarter. Teacher Retirement System of Texas owned 0.14% of Flowserve worth $8,803,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLS. Headlands Technologies LLC lifted its position in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Park Square Financial Group LLC bought a new position in Flowserve in the 4th quarter valued at approximately $33,000. Colonial Trust Co SC lifted its position in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 478 shares in the last quarter. True Wealth Design LLC lifted its position in Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE:FLS traded up $1.83 during midday trading on Tuesday, hitting $53.98. The company had a trading volume of 843,864 shares, compared to its average volume of 1,560,809. The company has a fifty day moving average of $49.26 and a two-hundred day moving average of $52.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.07 and a quick ratio of 1.46. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.27 and a beta of 1.25. 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 announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.58 EPS. The company's revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.56%. Flowserve's payout ratio is presently 39.25%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada increased their price target on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Mizuho set a $60.00 price target on Flowserve in a report on Friday, May 16th. Citigroup lowered their price target on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Flowserve has a consensus rating of "Buy" and a consensus price target of $63.00.

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.