47,864 Shares in Flowserve Co. (NYSE:FLS) Acquired by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC bought a new stake in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, Holdings Channel.com reports. The firm bought 47,864 shares of the industrial products company’s stock, valued at approximately $2,753,000.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Flowserve by 58.3% in the second quarter. American Century Companies Inc. now owns 40,786 shares of the industrial products company’s stock valued at $1,962,000 after acquiring an additional 15,029 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Flowserve by 13.1% during the second quarter. Envestnet Asset Management Inc. now owns 240,039 shares of the industrial products company’s stock valued at $11,546,000 after buying an additional 27,818 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Flowserve by 13.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,074 shares of the industrial products company’s stock worth $428,000 after buying an additional 1,051 shares in the last quarter. Intech Investment Management LLC purchased a new position in Flowserve during the second quarter valued at $208,000. Finally, Ensign Peak Advisors Inc increased its holdings in Flowserve by 18.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 47,284 shares of the industrial products company’s stock valued at $2,274,000 after acquiring an additional 7,215 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FLS. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research report on Thursday, December 12th. TD Cowen lifted their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Mizuho increased their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Finally, StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average price target of $66.10.

Flowserve Stock Down 0.0 %

NYSE:FLS opened at $64.26 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market capitalization of $8.44 billion, a P/E ratio of 31.81, a P/E/G ratio of 1.31 and a beta of 1.42. The company’s 50-day simple moving average is $60.07 and its 200-day simple moving average is $53.87. Flowserve Co. has a fifty-two week low of $39.69 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. Flowserve’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Flowserve Co. will post 2.7 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

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.