Flowserve Corporation Announces Quarterly Dividend of $0.21 (NYSE:FLS)

by · The Cerbat Gem

Flowserve Corporation (NYSE:FLS – Get Free Report) declared a quarterly dividend on Friday, December 12th. Shareholders of record on Friday, December 26th will be paid a dividend of 0.21 per share by the industrial products company on Friday, January 9th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 26th.

Flowserve has decreased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 1 years. Flowserve has a dividend payout ratio of 23.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flowserve to earn $3.71 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 22.6%.

Flowserve Price Performance

NYSE FLS traded down $2.13 during trading on Friday, reaching $71.35. 795,748 shares of the company traded hands, compared to its average volume of 2,031,818. Flowserve has a 1-year low of $37.34 and a 1-year high of $74.63. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.48 and a beta of 1.30. The stock’s 50 day moving average price is $63.18 and its two-hundred day moving average price is $56.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10.

Flowserve (NYSE:FLS – Get Free Report) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. Flowserve had a return on equity of 19.41% and a net margin of 9.66%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company earned $0.62 EPS. Flowserve’s revenue was up 3.6% on a year-over-year basis. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. As a group, analysts anticipate that Flowserve will post 3.18 EPS for the current year.

Insider Activity at Flowserve

In related news, insider Susan Claire Hudson sold 10,667 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $70.01, for a total value of $746,796.67. Following the sale, the insider directly owned 6,589 shares of the company’s stock, valued at approximately $461,295.89. The trade was a 61.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total value of $3,337,940.00. Following the transaction, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This trade represents a 47.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 59,276 shares of company stock worth $4,196,578 in the last ninety days. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Flowserve

A number of institutional investors have recently bought and sold shares of FLS. Royal Bank of Canada grew its holdings in shares of Flowserve by 135.6% during the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company’s stock valued at $17,089,000 after purchasing an additional 201,420 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Flowserve by 50.4% during the 1st quarter. Hsbc Holdings PLC now owns 163,402 shares of the industrial products company’s stock worth $7,915,000 after acquiring an additional 54,771 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Flowserve by 96.2% in the first quarter. Atria Wealth Solutions Inc. now owns 11,429 shares of the industrial products company’s stock valued at $558,000 after purchasing an additional 5,604 shares during the period. Boston Partners bought a new stake in Flowserve in the second quarter valued at approximately $223,561,000. Finally, Mandatum Life Insurance Co Ltd acquired a new stake in Flowserve during the 2nd quarter valued at approximately $2,618,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Flowserve

(Get Free Report)

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.

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