TD Waterhouse Canada Inc. Acquires 54,150 Shares of Flowserve Corporation $FLS

TD Waterhouse Canada Inc. lifted its holdings in shares of Flowserve Corporation (NYSE:FLS) by 74.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,781 shares of the industrial products company’s stock after buying an additional 54,150 shares during the period. TD Waterhouse Canada Inc. owned about 0.10% of Flowserve worth $9,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FLS. Comprehensive Money Management Services LLC raised its holdings in Flowserve by 1.5% during the first quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 125 shares in the last quarter. BTC Capital Management Inc. grew its stake in Flowserve by 2.5% in the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 162 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Flowserve by 20.1% during the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares during the last quarter. IFP Advisors Inc increased its position in shares of Flowserve by 24.4% during the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 163 shares during the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Flowserve by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FLS. Robert W. Baird set a $93.00 price objective on Flowserve in a report on Friday, July 31st. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. The Goldman Sachs Group set a $82.00 price target on shares of Flowserve in a research report on Thursday, July 30th. Weiss Ratings cut shares of Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada lifted their price objective on shares of Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.60.

Flowserve Stock Performance

FLS opened at $76.74 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.15 and a debt-to-equity ratio of 0.91. Flowserve Corporation has a 12-month low of $48.71 and a 12-month high of $92.41. The business has a 50 day moving average of $75.31 and a 200-day moving average of $76.85. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.70 and a beta of 1.25.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. On average, equities research analysts expect that Flowserve Corporation will post 4.1 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is currently 30.88%.

About Flowserve

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.