Flowserve Co. (NYSE:FLS) to Issue $0.21 Quarterly Dividend

Flowserve Co. (NYSE:FLS) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Investors of record on Friday, March 28th will be given a dividend of 0.21 per share by the industrial products company on Friday, April 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.33%.

Flowserve has raised its dividend payment by an average of 1.6% per year over the last three years. Flowserve has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flowserve to earn $3.20 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 26.3%.

Flowserve Trading Up 1.3 %

FLS traded up $0.81 during trading hours on Tuesday, reaching $63.10. The company’s stock had a trading volume of 1,858,012 shares, compared to its average volume of 1,230,810. The stock has a market cap of $8.29 billion, a PE ratio of 31.24, a P/E/G ratio of 1.29 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 has a fifty-two week low of $41.60 and a fifty-two week high of $65.08. The business’s 50-day moving average is $60.75 and its 200-day moving average is $55.55.

Wall Street Analyst Weigh In

FLS has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Stifel Nicolaus increased their target price on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group raised shares of Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $69.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

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.