Flowserve Co. (NYSE:FLS) Holdings Trimmed by Toronto Dominion Bank

Toronto Dominion Bank trimmed its position in shares of Flowserve Co. (NYSE:FLS) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,210 shares of the industrial products company’s stock after selling 2,585 shares during the period. Toronto Dominion Bank’s holdings in Flowserve were worth $2,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Logan Capital Management Inc. grew its position in Flowserve by 1.2% during the 1st quarter. Logan Capital Management Inc. now owns 21,873 shares of the industrial products company’s stock worth $849,000 after purchasing an additional 261 shares in the last quarter. US Bancorp DE grew its position in Flowserve by 4.4% during the 2nd quarter. US Bancorp DE now owns 9,020 shares of the industrial products company’s stock worth $364,000 after purchasing an additional 379 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Flowserve by 9.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,208 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 551 shares in the last quarter. American Century Companies Inc. grew its position in Flowserve by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 9,358 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 580 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in shares of Flowserve by 2.9% during the 1st quarter. Eaton Vance Management now owns 20,941 shares of the industrial products company’s stock valued at $813,000 after acquiring an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

NYSE:FLS opened at $34.24 on Wednesday. Flowserve Co. has a 12-month low of $25.87 and a 12-month high of $44.39. The company has a quick ratio of 1.64, a current ratio of 2.28 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.46 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.77. The firm has a 50-day moving average price of $39.26 and a 200 day moving average price of $40.36.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Thursday, August 5th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.06). The business had revenue of $898.18 million during the quarter, compared to analyst estimates of $891.43 million. Flowserve had a return on equity of 12.59% and a net margin of 4.57%. On average, research analysts expect that Flowserve Co. will post 1.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 8th. Stockholders of record on Friday, September 24th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, September 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.34%. Flowserve’s dividend payout ratio (DPR) is currently 45.98%.

FLS has been the topic of several research analyst reports. Credit Suisse Group upgraded shares of Flowserve from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $48.00 in a report on Thursday, July 8th. Royal Bank of Canada lowered their price target on shares of Flowserve from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Monday, August 9th. Cowen upgraded shares of Flowserve from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $48.00 in a report on Wednesday, July 7th. Finally, Zacks Investment Research cut shares of Flowserve from a “buy” rating to a “hold” rating and set a $44.00 price objective for the company. in a report on Tuesday, June 22nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.57.

Flowserve Company Profile

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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