TD Asset Management Inc Increases Position in Flowserve Corporation $FLS

Key Points

• TD Asset Management boosted its Flowserve stake by 45.2% in the fourth quarter, buying 33,348 additional shares and bringing its holdings to 107,057 shares valued at about $7.4 million.
• Flowserve reported better-than-expected earnings of $0.85 per share, though revenue came in below estimates at $1.07 billion and was down 6.7% year over year.
• The company declared a quarterly dividend of $0.22 per share, and analysts currently rate the stock a “Moderate Buy” with an average price target of $87.70.

TD Asset Management Inc raised its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 45.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,057 shares of the industrial products company's stock after buying an additional 33,348 shares during the period. TD Asset Management Inc owned about 0.08% of Flowserve worth $7,428,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Flowserve by 3.9% during the third quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company's stock valued at $222,000 after buying an additional 157 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Flowserve by 20.1% in the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 162 shares during the period. IFP Advisors Inc boosted its holdings in shares of Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 163 shares during the period. Measured Wealth Private Client Group LLC boosted its holdings in shares of Flowserve by 31.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 880 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 211 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of Flowserve by 0.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 25,939 shares of the industrial products company's stock valued at $1,800,000 after purchasing an additional 217 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Up 1.4%

Flowserve stock opened at $75.89 on Wednesday. The business has a fifty day moving average of $75.61 and a two-hundred day moving average of $76.24. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73. The firm has a market cap of $9.70 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.68 and a beta of 1.22. Flowserve Corporation has a twelve month low of $45.11 and a twelve month high of $92.41.

Flowserve (NYSE:FLS - Get Free Report) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.Flowserve's revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, analysts forecast that Flowserve Corporation will post 4.05 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.2%. Flowserve's dividend payout ratio is currently 32.59%.

Analysts Set New Price Targets

A number of analysts recently issued reports on FLS shares. Wall Street Zen lowered Flowserve from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. TD Cowen reiterated a "buy" rating on shares of Flowserve in a report on Friday, May 1st. Stifel Nicolaus set a $92.00 price target on Flowserve in a report on Friday, May 1st. Weiss Ratings lowered Flowserve from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 15th. Finally, Zacks Research lowered Flowserve from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 15th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.70.

Insiders Place Their Bets

In related news, Director Brian D. Savoy bought 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the completion of the acquisition, the director directly owned 1,000 shares in the company, valued at approximately $67,340. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Flowserve Profile

Flowserve Corporation NYSE: FLS is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve's offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve's product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.

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