TD Waterhouse Canada Inc. Sells 6,066 Shares of Flowserve Co. (NYSE:FLS)

TD Waterhouse Canada Inc. lessened its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,146 shares of the industrial products company's stock after selling 6,066 shares during the period. TD Waterhouse Canada Inc.'s holdings in Flowserve were worth $871,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FIL Ltd raised its position in shares of Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. Norges Bank bought a new position in shares of Flowserve in the fourth quarter worth approximately $94,629,000. Invesco Ltd. increased its position in shares of Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after acquiring an additional 714,063 shares in the last quarter. Varenne Capital Partners bought a new stake in shares of Flowserve during the fourth quarter valued at approximately $26,216,000. Finally, Loomis Sayles & Co. L P purchased a new position in Flowserve in the 4th quarter worth approximately $23,614,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

Shares of Flowserve stock traded down $0.18 on Monday, hitting $44.64. 1,467,879 shares of the company's stock were exchanged, compared to its average volume of 1,274,099. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market capitalization of $5.88 billion, a PE ratio of 20.86, a PEG ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The company has a 50-day simple moving average of $47.86 and a 200-day simple moving average of $55.35.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, equities analysts anticipate that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is 39.25%.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLS shares. Stifel Nicolaus cut their target price on Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Robert W. Baird upgraded shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Flowserve currently has an average rating of "Moderate Buy" and an average target price of $64.30.

Flowserve 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.