Flowserve Corporation (NYSE:FLS) Plans Quarterly Dividend of $0.22

Flowserve Corporation (NYSE:FLS) announced a quarterly dividend on Thursday, May 14th. Stockholders of record on Friday, June 26th will be given a dividend of 0.22 per share by the industrial products company on Friday, July 10th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, June 26th.

Flowserve has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Flowserve has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Flowserve to earn $4.61 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 19.1%.

Flowserve Stock Up 2.3%

Shares of Flowserve stock opened at $68.01 on Friday. Flowserve has a 1 year low of $45.11 and a 1 year high of $92.41. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.50 and a beta of 1.24. The company has a 50-day moving average of $77.01 and a 200 day moving average of $75.60. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.17 billion. Flowserve had a net margin of 7.61% and a return on equity of 21.46%. Flowserve’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, sell-side analysts anticipate that Flowserve will post 4.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comprehensive Money Management Services LLC increased its holdings in shares of Flowserve by 1.5% in the 1st quarter. Comprehensive Money Management Services LLC now owns 8,509 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 125 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Flowserve by 3.9% during the third quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 157 shares in the last quarter. BTC Capital Management Inc. boosted its position in shares of Flowserve by 2.5% during the first quarter. BTC Capital Management Inc. now owns 6,531 shares of the industrial products company’s stock valued at $480,000 after buying an additional 162 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock valued at $51,000 after buying an additional 162 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after buying an additional 163 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.