Toronto Dominion Bank Purchases 1,175 Shares of Flowserve Co. (NYSE:FLS)

Toronto Dominion Bank boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,900 shares of the industrial products company’s stock after purchasing an additional 1,175 shares during the period. Toronto Dominion Bank’s holdings in Flowserve were worth $1,442,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC bought a new position in Flowserve in the 3rd quarter valued at approximately $25,000. Signaturefd LLC lifted its holdings in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Flowserve in the third quarter worth $27,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve in the third quarter valued at $29,000. Finally, nVerses Capital LLC bought a new position in Flowserve during the 2nd quarter worth $34,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on FLS. Citigroup upped their price target on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $55.00 to $69.00 in a research note on Thursday. Jefferies Financial Group assumed coverage on Flowserve in a research report on Friday, October 18th. They set a “buy” rating and a $65.00 target price on the stock. Bank of America lifted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.40.

Flowserve Price Performance

Shares of FLS opened at $60.62 on Monday. The business’s fifty day moving average is $57.63 and its 200 day moving average is $51.59. Flowserve Co. has a 12-month low of $39.20 and a 12-month high of $62.32. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $7.96 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. Sell-side analysts anticipate that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Company 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.