TD Asset Management Inc Sells 73,096 Shares of Flowserve Co. (NYSE:FLS)

TD Asset Management Inc trimmed its stake in Flowserve Co. (NYSE:FLS) by 32.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,614 shares of the industrial products company’s stock after selling 73,096 shares during the period. TD Asset Management Inc’s holdings in Flowserve were worth $7,341,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Moody National Bank Trust Division raised its position in shares of Flowserve by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 259 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Flowserve by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 305 shares in the last quarter. Signaturefd LLC raised its position in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Flowserve by 7.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 426 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Flowserve by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after acquiring an additional 433 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 1.0 %

Flowserve stock opened at $45.39 on Wednesday. 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 business’s 50-day simple moving average is $48.04 and its two-hundred day simple moving average is $47.27. The company has a market cap of $5.96 billion, a PE ratio of 25.64, a PEG ratio of 1.09 and a beta of 1.39. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $52.09.

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

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.85%. Flowserve’s payout ratio is 47.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus upped their target price on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird upped their target price on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen upped their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America upped their target price on Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.11.

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.