TD Asset Management Inc Trims Stock Holdings in Flowserve Co. (NYSE:FLS)

TD Asset Management Inc lowered its position in Flowserve Co. (NYSE:FLSFree Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,861 shares of the industrial products company’s stock after selling 1,689 shares during the quarter. TD Asset Management Inc owned approximately 0.17% of Flowserve worth $9,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Flowserve during the fourth quarter worth approximately $26,000. USA Financial Formulas purchased a new stake in shares of Flowserve during the third quarter worth approximately $107,000. Advisory Services Network LLC purchased a new stake in shares of Flowserve during the fourth quarter worth approximately $178,000. Blair William & Co. IL purchased a new stake in shares of Flowserve during the third quarter worth approximately $211,000. Finally, JB Capital LLC purchased a new stake in shares of Flowserve during the fourth quarter worth approximately $233,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 2.9 %

Flowserve stock opened at $48.26 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.88. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. Flowserve Co. has a fifty-two week low of $34.35 and a fifty-two week high of $50.49. The stock’s fifty day moving average is $47.73 and its two-hundred day moving average is $43.34.

Flowserve (NYSE:FLSGet Free Report) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. Flowserve’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Analysts predict that Flowserve Co. will post 2.66 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Friday, June 28th. Flowserve’s payout ratio is currently 47.46%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FLS shares. Bank of America upped their price target on Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird upped their price objective on Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus upped their price objective on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group upped their price objective on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Monday, May 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.55.

Read Our Latest Analysis on Flowserve

Insider Activity at Flowserve

In related news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

About Flowserve

(Free Report)

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.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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