Oliver Luxxe Assets LLC Takes $2.75 Million Position in Flowserve Co. (NYSE:FLS)

Oliver Luxxe Assets LLC acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 47,864 shares of the industrial products company's stock, valued at approximately $2,753,000.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in Flowserve by 5.8% in the second quarter. Commonwealth Equity Services LLC now owns 10,466 shares of the industrial products company's stock worth $503,000 after buying an additional 578 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Flowserve by 266.4% during the 2nd quarter. Natixis Advisors LLC now owns 70,865 shares of the industrial products company's stock valued at $3,409,000 after purchasing an additional 51,526 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Flowserve by 220.5% in the 2nd quarter. Victory Capital Management Inc. now owns 126,095 shares of the industrial products company's stock valued at $6,065,000 after purchasing an additional 86,751 shares during the last quarter. Arizona State Retirement System boosted its holdings in Flowserve by 1.9% in the second quarter. Arizona State Retirement System now owns 36,738 shares of the industrial products company's stock worth $1,767,000 after purchasing an additional 679 shares in the last quarter. Finally, Savant Capital LLC increased its position in Flowserve by 21.4% during the second quarter. Savant Capital LLC now owns 69,978 shares of the industrial products company's stock worth $3,366,000 after buying an additional 12,323 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

Shares of NYSE:FLS traded up $0.76 during trading on Monday, reaching $59.21. The stock had a trading volume of 1,682,162 shares, compared to its average volume of 1,082,987. The stock has a market capitalization of $7.78 billion, a PE ratio of 29.31, a P/E/G ratio of 1.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. Flowserve Co. has a 52 week low of $39.21 and a 52 week high of $62.32. The business's 50-day moving average price is $59.05 and its 200 day moving average price is $52.77.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.42%. Flowserve's payout ratio is currently 41.58%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $57.00 to $69.00 in a research note on Friday, November 22nd. Mizuho lifted their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Jefferies Financial Group started coverage on shares of Flowserve in a report on Friday, October 18th. They set a "buy" rating and a $65.00 price objective for the company. Robert W. Baird boosted their target price on shares of Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Flowserve has a consensus rating of "Moderate Buy" and a consensus target price of $64.40.

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.