Flowserve Corporation $FLS Shares Acquired by TD Asset Management Inc

TD Asset Management Inc raised its holdings in shares of Flowserve Corporation (NYSE:FLS) by 45.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,057 shares of the industrial products company’s stock after purchasing an additional 33,348 shares during the period. TD Asset Management Inc’s holdings in Flowserve were worth $7,428,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Flowserve by 1,300.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 203,715 shares of the industrial products company’s stock worth $14,967,000 after purchasing an additional 189,165 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Flowserve during the third quarter worth $3,034,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Flowserve during the third quarter worth $2,343,000. Exchange Traded Concepts LLC increased its position in shares of Flowserve by 19.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 128,436 shares of the industrial products company’s stock worth $8,911,000 after purchasing an additional 20,725 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Flowserve during the third quarter worth $1,803,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Up 1.4%

Shares of FLS stock opened at $75.89 on Wednesday. The stock has a 50 day moving average of $75.61 and a 200 day moving average of $76.24. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The stock 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) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.Flowserve’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts expect that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s dividend payout ratio is presently 32.59%.

Insider Activity

In other news, Director Brian D. Savoy bought 1,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FLS shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Flowserve in a research report on Thursday, April 30th. Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Citigroup reissued a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average price target of $87.70.

Flowserve Company 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.