Flowserve Co. (FLS) to Issue Quarterly Dividend of $0.21 on April 12th

Flowserve Co. (NYSE:FLSGet Free Report) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Investors of record on Thursday, March 28th will be given a dividend of 0.21 per share by the industrial products company on Friday, April 12th. This represents a $0.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Flowserve’s previous quarterly dividend of $0.20.

Flowserve has a payout ratio of 28.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.2%.

Flowserve Stock Down 0.7 %

Shares of FLS opened at $45.62 on Monday. Flowserve has a 52 week low of $30.83 and a 52 week high of $46.06. The firm has a market capitalization of $5.99 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.30 and a beta of 1.45. The company has a 50-day simple moving average of $42.18 and a 200-day simple moving average of $40.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.27 and a current ratio of 1.88.

Flowserve (NYSE:FLSGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, equities research analysts expect that Flowserve will post 2.54 earnings per share for the current year.

Hedge Funds Weigh In On Flowserve

A number of large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new stake in shares of Flowserve in the fourth quarter valued at approximately $203,000. Mariner LLC bought a new position in Flowserve in the fourth quarter valued at approximately $201,000. Advisory Services Network LLC lifted its stake in Flowserve by 8.5% in the first quarter. Advisory Services Network LLC now owns 5,100 shares of the industrial products company’s stock valued at $173,000 after acquiring an additional 400 shares during the last quarter. State of Wyoming grew its position in shares of Flowserve by 372.9% in the 2nd quarter. State of Wyoming now owns 4,171 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 3,289 shares during the period. Finally, Covestor Ltd increased its stake in shares of Flowserve by 138.4% during the 1st quarter. Covestor Ltd now owns 3,684 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 2,139 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. StockNews.com raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 22nd. Robert W. Baird upped their price target on Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Mizuho raised their target price on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $46.57.

Check Out Our Latest Report on Flowserve

Flowserve Company Profile

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Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, the Middle East, Africa, Asia Pacific, and Europe. 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, 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.

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Dividend History for Flowserve (NYSE:FLS)

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