TD Asset Management Inc. Has $1.71 Million Position in Flowserve Corp (FLS)
TD Asset Management Inc. decreased its position in Flowserve Corp (NYSE:FLS) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,035 shares of the industrial products company’s stock after selling 3,755 shares during the quarter. TD Asset Management Inc.’s holdings in Flowserve were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in FLS. Oppenheimer & Co. Inc. purchased a new stake in shares of Flowserve during the 3rd quarter worth about $1,799,000. Davidson Investment Advisors raised its position in shares of Flowserve by 26.9% during the 3rd quarter. Davidson Investment Advisors now owns 365,176 shares of the industrial products company’s stock valued at $15,552,000 after acquiring an additional 77,387 shares in the last quarter. ING Groep NV raised its position in shares of Flowserve by 37.6% during the 3rd quarter. ING Groep NV now owns 16,837 shares of the industrial products company’s stock valued at $717,000 after acquiring an additional 4,604 shares in the last quarter. SPF Beheer BV raised its position in shares of Flowserve by 6.5% during the 3rd quarter. SPF Beheer BV now owns 1,328,423 shares of the industrial products company’s stock valued at $56,830,000 after acquiring an additional 80,792 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of Flowserve by 7.5% during the 3rd quarter. Stephens Inc. AR now owns 57,038 shares of the industrial products company’s stock valued at $2,429,000 after acquiring an additional 3,955 shares in the last quarter.
Shares of Flowserve Corp (NYSE FLS) traded down $0.52 during midday trading on Monday, reaching $42.13. The company’s stock had a trading volume of 1,240,400 shares, compared to its average volume of 1,411,708. Flowserve Corp has a 1 year low of $37.51 and a 1 year high of $52.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The firm has a market capitalization of $5,503.65, a price-to-earnings ratio of 27.01, a PEG ratio of 3.41 and a beta of 1.53.
Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The firm had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. During the same period last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. equities research analysts predict that Flowserve Corp will post 1.38 earnings per share for the current year.
FLS has been the topic of several research reports. Susquehanna Bancshares raised Flowserve from a “neutral” rating to a “positive” rating and dropped their price target for the company from $50.00 to $46.00 in a research report on Tuesday, August 15th. Stifel Nicolaus lowered Flowserve from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Monday. KeyCorp reissued a “hold” rating on shares of Flowserve in a research report on Thursday, September 28th. Zacks Investment Research lowered Flowserve from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Finally, UBS raised Flowserve from a “neutral” rating to a “positive” rating in a research report on Tuesday, August 15th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.17.
Flowserve Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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