TD Asset Management Inc Trims Stake in Flowserve Corporation (NYSE:FLS)

TD Asset Management Inc reduced its stake in Flowserve Corporation (NYSE:FLS) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,238 shares of the industrial products company’s stock after selling 1,189 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Flowserve worth $3,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FIL Ltd raised its stake in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company’s stock worth $302,271,000 after buying an additional 2,193,904 shares during the period. AQR Capital Management LLC increased its holdings in Flowserve by 9.7% in the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock worth $168,272,000 after acquiring an additional 258,361 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Flowserve by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock worth $136,213,000 after acquiring an additional 38,340 shares during the period. Invesco Ltd. lifted its holdings in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company’s stock valued at $118,953,000 after purchasing an additional 714,063 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in 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 valued at $95,451,000 after purchasing an additional 122,161 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLS has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Robert W. Baird cut their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Mizuho set a $60.00 price target on Flowserve in a report on Friday, May 16th. Royal Bank Of Canada upped their price objective on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their target price on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Flowserve has a consensus rating of “Buy” and an average price target of $65.78.

Flowserve Trading Down 3.9%

Shares of Flowserve stock opened at $53.86 on Friday. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $51.34 and a 200-day moving average price of $51.74. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.17 and a beta of 1.28.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.22 billion. Equities research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. Flowserve’s dividend payout ratio (DPR) is 38.01%.

Flowserve Company 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.