Flowserve Corporation $FLS Stake Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in Flowserve Corporation (NYSE:FLS) by 68.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,663 shares of the industrial products company’s stock after selling 123,584 shares during the period. Teacher Retirement System of Texas’ holdings in Flowserve were worth $2,966,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FLS. Wellington Management Group LLP boosted its position in Flowserve by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock worth $237,185,000 after acquiring an additional 248,273 shares during the period. Earnest Partners LLC increased its holdings in shares of Flowserve by 6.8% in the 1st quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after purchasing an additional 173,528 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Flowserve by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock worth $119,332,000 after purchasing an additional 75,374 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Flowserve during the first quarter worth approximately $111,598,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Flowserve by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company’s stock worth $95,451,000 after purchasing an additional 122,161 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Flowserve Trading Up 1.3%

Shares of NYSE:FLS opened at $68.20 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $8.92 billion, a PE ratio of 19.82, a P/E/G ratio of 1.38 and a beta of 1.27. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $70.32. The firm has a fifty day moving average price of $54.56 and a 200 day moving average price of $51.77.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.2%. Flowserve’s dividend payout ratio is presently 24.42%.

Wall Street Analysts Forecast Growth

FLS has been the topic of several research reports. Stifel Nicolaus set a $84.00 price objective on shares of Flowserve in a research note on Thursday. Royal Bank Of Canada boosted their price target on shares of Flowserve from $66.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup lifted their price objective on Flowserve from $68.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Flowserve 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.