Flowserve Corp (FLS) Shares Sold by Texas Permanent School Fund

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Texas Permanent School Fund trimmed its stake in shares of Flowserve Corp (NYSE:FLS) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,320 shares of the industrial products company’s stock after selling 3,055 shares during the period. Texas Permanent School Fund’s holdings in Flowserve were worth $1,001,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. ING Groep NV increased its stake in Flowserve by 245.6% in the 3rd quarter. ING Groep NV now owns 20,148 shares of the industrial products company’s stock valued at $1,102,000 after buying an additional 14,318 shares during the last quarter. Standard Life Aberdeen plc increased its stake in Flowserve by 19.8% in the 3rd quarter. Standard Life Aberdeen plc now owns 36,066 shares of the industrial products company’s stock valued at $1,973,000 after buying an additional 5,972 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Flowserve in the 3rd quarter valued at $526,000. Janus Henderson Group PLC increased its stake in Flowserve by 4.9% in the 3rd quarter. Janus Henderson Group PLC now owns 41,743 shares of the industrial products company’s stock valued at $2,283,000 after buying an additional 1,953 shares during the last quarter. Finally, Enlightenment Research LLC acquired a new stake in Flowserve in the 4th quarter valued at $95,000.

Several brokerages have issued reports on FLS. ValuEngine upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. TheStreet upgraded shares of Flowserve from a “c” rating to a “b-” rating in a research note on Wednesday, February 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $48.00 price target on shares of Flowserve in a research note on Friday, December 14th. Vertical Research raised shares of Flowserve from a “sell” rating to a “hold” rating and set a $43.00 price objective for the company in a research report on Friday, December 14th. Finally, Zacks Investment Research downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.85.

Shares of FLS opened at $44.28 on Friday. Flowserve Corp has a one year low of $35.88 and a one year high of $56.86. The stock has a market capitalization of $5.80 billion, a PE ratio of 25.30, a PEG ratio of 1.33 and a beta of 1.64. The company has a quick ratio of 1.62, a current ratio of 2.20 and a debt-to-equity ratio of 0.85.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Flowserve had a net margin of 3.12% and a return on equity of 12.33%. The company had revenue of $986.90 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, research analysts forecast that Flowserve Corp will post 2.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, March 28th. Flowserve’s dividend payout ratio (DPR) is presently 43.43%.

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About Flowserve

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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