Flowserve Corporation (FLS) to Distribute Quarterly Dividend of $0.22 on October 9th

Flowserve Corporation (NYSE:FLS) declared a quarterly dividend on Thursday, August 27th. Stockholders of record on Friday, September 25th will be given a dividend of 0.22 per share by the industrial products company on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th.

Flowserve has raised its dividend 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 dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flowserve to earn $4.67 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 18.8%.

Flowserve Trading Down 1.8%

Shares of FLS opened at $80.49 on Friday. The business has a 50-day moving average of $75.20 and a 200 day moving average of $77.19. Flowserve has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The firm has a market cap of $10.23 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.58 and a current ratio of 2.15.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Flowserve had a return on equity of 21.42% and a net margin of 8.01%.The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. Flowserve has set its FY 2026 guidance at 4.050-4.200 EPS. As a group, research analysts forecast that Flowserve will post 4.1 EPS for the current year.

Hedge Funds Weigh In On Flowserve

A number of large investors have recently modified their holdings of FLS. BlackRock Inc. bought a new stake in Flowserve during the 2nd quarter worth approximately $999,631,000. California State Teachers Retirement System boosted its holdings in Flowserve by 7,209.3% in the 2nd quarter. California State Teachers Retirement System now owns 10,996,000 shares of the industrial products company’s stock valued at $815,463,000 after purchasing an additional 10,845,561 shares during the period. PointState Capital LP bought a new position in Flowserve in the 2nd quarter valued at $196,837,000. Bank of New York Mellon Corp purchased a new position in shares of Flowserve during the 2nd quarter valued at $177,380,000. Finally, Bank of America Corp DE bought a new position in shares of Flowserve in the second quarter worth $144,400,000. 93.93% of the stock is currently 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.