TD Waterhouse Canada Inc. Acquires 1,691 Shares of Flowserve Corporation $FLS

TD Waterhouse Canada Inc. increased its stake in Flowserve Corporation (NYSE:FLS) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,774 shares of the industrial products company’s stock after acquiring an additional 1,691 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Flowserve were worth $825,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in shares of Flowserve during the second quarter worth $25,000. First Horizon Advisors Inc. acquired a new position in shares of Flowserve in the 2nd quarter valued at about $26,000. Hilltop National Bank bought a new stake in shares of Flowserve in the 2nd quarter valued at $31,000. IFP Advisors Inc grew its stake in Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 619 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Flowserve by 149.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 697 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 418 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Insider Activity at Flowserve

In other Flowserve news, CFO Amy B. Schwetz sold 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the completion of the transaction, the chief financial officer owned 52,628 shares of the company’s stock, valued at $3,737,640.56. The trade was a 47.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lamar L. Duhon sold 1,609 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the sale, the insider owned 15,116 shares in the company, valued at approximately $1,050,713.16. This trade represents a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 59,276 shares of company stock valued at $4,196,578. Company insiders own 0.76% of the company’s stock.

Flowserve Stock Performance

Shares of FLS opened at $67.73 on Friday. The stock’s 50-day simple moving average is $58.67 and its 200 day simple moving average is $54.32. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $72.08. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. Flowserve’s revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. Research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Bank of America restated a “neutral” rating and issued a $73.00 target price (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. The Goldman Sachs Group lifted their price target on Flowserve from $64.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Flowserve in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.33.

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.