Flowserve Co. Declares Quarterly Dividend of $0.21 (NYSE:FLS)

Flowserve Co. (NYSE:FLS) announced 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 annualized dividend and a yield of 1.33%.

Flowserve has raised its dividend by an average of 1.6% annually over the last three years. Flowserve has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

FLS traded up $0.81 on Tuesday, hitting $63.10. 1,858,012 shares of the company’s stock were exchanged, compared to its average volume of 1,230,810. The firm 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. Flowserve has a twelve month low of $41.60 and a twelve month high of $65.08. The stock has a fifty day moving average of $60.75 and a two-hundred day moving average of $55.55. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

Wall Street Analyst Weigh In

FLS has been the subject of several recent analyst reports. StockNews.com cut shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. Citigroup decreased their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird upped 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, TD Cowen increased their price objective on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

About Flowserve

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.