Toronto Dominion Bank Sells 12,560 Shares of Flowserve Co. (NYSE:FLS)

Toronto Dominion Bank cut its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 45.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,340 shares of the industrial products company's stock after selling 12,560 shares during the period. Toronto Dominion Bank's holdings in Flowserve were worth $882,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FLS. Headlands Technologies LLC increased its holdings in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares during the last quarter. Colonial Trust Co SC lifted its holdings in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares in the last quarter. UMB Bank n.a. lifted its holdings in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after buying an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after buying an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after buying an additional 275 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

FLS stock traded down $0.28 during mid-day trading on Thursday, reaching $50.22. The company had a trading volume of 197,258 shares, compared to its average volume of 1,296,397. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08. The stock has a market capitalization of $6.57 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.35 and a beta of 1.21. The stock's 50-day simple moving average is $46.55 and its two-hundred day simple moving average is $54.42. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's dividend payout ratio is currently 39.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FLS shares. Mizuho set a $60.00 price target on shares of Flowserve in a report on Friday, May 16th. Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada upped their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Citigroup dropped their price objective on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus increased their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $63.00.

About Flowserve

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.