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.
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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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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