TD Asset Management Inc Sells 3,027 Shares of Flowserve Corporation $FLS

TD Asset Management Inc trimmed its stake in Flowserve Corporation (NYSE:FLS) by 3.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,211 shares of the industrial products company’s stock after selling 3,027 shares during the period. TD Asset Management Inc’s holdings in Flowserve were worth $4,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FLS. TD Private Client Wealth LLC bought a new position in shares of Flowserve in the 2nd quarter valued at approximately $25,000. Hilltop National Bank acquired a new stake in Flowserve in the 2nd quarter valued at approximately $31,000. IFP Advisors Inc grew its holdings in Flowserve by 1,289.6% in the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after buying an additional 619 shares during the last quarter. Parallel Advisors LLC grew its holdings in Flowserve by 74.5% in the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after buying an additional 344 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after buying an additional 429 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Price Performance

Shares of NYSE:FLS opened at $51.26 on Tuesday. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The firm has a market capitalization of $6.70 billion, a PE ratio of 23.20, a PEG ratio of 1.03 and a beta of 1.27. The business’s 50 day moving average is $53.69 and its 200-day moving average is $50.77. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63.

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 the consensus estimate of $0.78 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. Sell-side analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.6%. Flowserve’s payout ratio is currently 38.01%.

Analyst Ratings Changes

FLS has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday, October 8th. Stifel Nicolaus raised their target price on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Citigroup raised their target price on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Flowserve presently has an average rating of “Buy” and an average price target of $65.88.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.