USA Financial Formulas Acquires New Position in Flowserve Co. (NYSE:FLS)

USA Financial Formulas acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,128 shares of the industrial products company's stock, valued at approximately $295,000.

Several other large investors also recently made changes to their positions in FLS. Oak Thistle LLC bought a new position in shares of Flowserve in the fourth quarter valued at $313,000. 180 Wealth Advisors LLC raised its stake in shares of Flowserve by 4.8% in the fourth quarter. 180 Wealth Advisors LLC now owns 12,255 shares of the industrial products company's stock worth $705,000 after purchasing an additional 565 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Flowserve by 9.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 20,106 shares of the industrial products company's stock valued at $1,156,000 after purchasing an additional 1,809 shares in the last quarter. Michael S. Ryan Inc. boosted its position in shares of Flowserve by 4.6% during the fourth quarter. Michael S. Ryan Inc. now owns 8,351 shares of the industrial products company's stock valued at $480,000 after buying an additional 370 shares during the last quarter. Finally, Oliver Luxxe Assets LLC bought a new stake in Flowserve during the fourth quarter worth $2,753,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of FLS stock traded up $0.73 on Friday, reaching $63.48. The company's stock had a trading volume of 640,807 shares, compared to its average volume of 1,241,287. The company has a market capitalization of $8.34 billion, a P/E ratio of 31.46, a PEG ratio of 1.17 and a beta of 1.42. Flowserve Co. has a 12-month low of $39.69 and a 12-month high of $63.84. The stock's 50 day simple moving average is $59.77 and its 200-day simple moving average is $53.35. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve's payout ratio is 41.58%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised shares of Flowserve from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. Stifel Nicolaus upped their price objective on Flowserve from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 target price on the stock. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 27th. Finally, The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and increased their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.10.

Flowserve Company 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.