Toronto Dominion Bank Trims Holdings in Flowserve Co. (NYSE:FLS)

Toronto Dominion Bank trimmed its position in shares of 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 fund owned 15,340 shares of the industrial products company's stock after selling 12,560 shares during the quarter. Toronto Dominion Bank's holdings in Flowserve were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FLS. Headlands Technologies LLC grew its position in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. Colonial Trust Co SC increased its holdings in Flowserve by 415.7% in 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 during the period. True Wealth Design LLC grew its holdings in shares of Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 394 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position 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 worth $62,000 after buying an additional 275 shares during the period. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 6.3%

FLS traded down $3.19 on Wednesday, hitting $47.33. The company had a trading volume of 9,265,608 shares, compared to its average volume of 1,331,976. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a fifty day moving average price of $46.40 and a 200-day moving average price of $54.07.

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

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.77%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Royal Bank of Canada upped their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Citigroup reduced their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird cut their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Mizuho set a $60.00 price objective on shares of Flowserve in a report on Friday, May 16th. One 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $63.00.

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.