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

TD Waterhouse Canada Inc. raised its stake in Flowserve Corporation (NYSE:FLS) by 74.6% in the second quarter, Holdings Channel reports. The fund owned 126,781 shares of the industrial products company’s stock after purchasing an additional 54,150 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Flowserve were worth $9,176,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FLS. Comprehensive Money Management Services LLC grew its holdings in shares of Flowserve by 1.5% during the 1st quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 125 shares during the last quarter. BTC Capital Management Inc. lifted its stake in Flowserve by 2.5% in the 1st 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 during the last quarter. Parallel Advisors LLC boosted its position in Flowserve by 20.1% in the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after buying an additional 162 shares in the last quarter. IFP Advisors Inc boosted its position in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after buying an additional 163 shares in the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Flowserve by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 4,667 shares of the industrial products company’s stock worth $324,000 after buying an additional 165 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

FLS stock opened at $76.74 on Friday. The company has a market capitalization of $9.75 billion, a P/E ratio of 26.93, a PEG ratio of 1.70 and a beta of 1.25. The company has a fifty day moving average price of $75.31 and a 200-day moving average price of $76.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15. Flowserve Corporation has a 52-week low of $48.71 and a 52-week high of $92.41.

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

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.88 annualized dividend and a yield of 1.1%. Flowserve’s dividend payout ratio is presently 30.88%.

Analyst Ratings Changes

FLS has been the subject of several research analyst reports. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and lowered their price target for the stock from $85.00 to $70.00 in a report on Wednesday, June 24th. Stifel Nicolaus boosted their price objective on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $93.00 price objective on Flowserve in a research report on Friday, July 31st. Royal Bank Of Canada increased their target price on Flowserve from $91.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group set a $82.00 price target on Flowserve in a research note on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.60.

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.