TD Waterhouse Canada Inc. Has $871,000 Stake in Flowserve Co. (NYSE:FLS)

TD Waterhouse Canada Inc. lessened its stake in Flowserve Co. (NYSE:FLS - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,146 shares of the industrial products company's stock after selling 6,066 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Flowserve were worth $871,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of FLS. Headlands Technologies LLC boosted its holdings in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve in the 3rd quarter valued at about $29,000. UMB Bank n.a. grew its position in shares of 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 during the last quarter. EverSource Wealth Advisors LLC raised its stake in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after acquiring an additional 595 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of FLS traded up $0.60 during trading hours on Wednesday, hitting $45.48. 1,342,316 shares of the company were exchanged, compared to its average volume of 1,599,409. The firm has a fifty day simple moving average of $47.32 and a 200-day simple moving average of $55.21. The company has a market capitalization of $5.99 billion, a PE ratio of 21.23, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a one year low of $37.34 and a one year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results 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. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. Flowserve's revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, March 28th. Flowserve's payout ratio is 39.25%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus cut their target price on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective on the stock in a research note on Monday, March 17th. StockNews.com lowered shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Citigroup reduced their price target 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. Finally, TD Cowen raised their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two equities research analysts have 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.30.

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.