Flowserve Co. (NYSE:FLS) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lessened its holdings in shares of Flowserve Co. (NYSE:FLS) by 42.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,725 shares of the industrial products company’s stock after selling 19,845 shares during the period. Toronto Dominion Bank’s holdings in Flowserve were worth $1,285,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Moody National Bank Trust Division grew its stake in Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 259 shares in the last quarter. Signaturefd LLC grew its stake in Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Flowserve by 7.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 426 shares in the last quarter. Retirement Systems of Alabama grew its stake in Flowserve by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after acquiring an additional 433 shares in the last quarter. Finally, ABLE Financial Group LLC grew its stake in Flowserve by 3.5% during the 2nd quarter. ABLE Financial Group LLC now owns 16,087 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 547 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America reissued a “buy” rating and issued a $60.00 price target on shares of Flowserve in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus increased their price objective on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.88.

Flowserve Stock Performance

NYSE:FLS opened at $51.69 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The stock has a market capitalization of $6.81 billion, a P/E ratio of 29.20, a PEG ratio of 1.16 and a beta of 1.39. The company has a 50 day moving average price of $48.08 and a 200 day moving average price of $47.84. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $53.86.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Equities research analysts forecast that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.