Flowserve (FLS) Declares $0.20 Dividend

Flowserve said on March 1, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.

Shares must be purchased before the ex-div date of March 23, 2023 to qualify for the dividend. Shareholders of record as of March 24, 2023 will receive the payment on April 7, 2023.

At the current share price of $35.13 / share, the stock's dividend yield is 2.28%. Looking back five years and taking a sample every week, the average dividend yield has been 2.14%, the lowest has been 1.38%, and the highest has been 4.16%. The standard deviation of yields is 0.53 (n=236).

The current dividend yield is 0.26 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.55. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 1.02% Downside

As of March 4, 2023, the average one-year price target for Flowserve is $34.77. The forecasts range from a low of $24.24 to a high of $44.10. The average price target represents a decrease of 1.02% from its latest reported closing price of $35.13.

The projected annual revenue for Flowserve is $3,928MM, an increase of 8.65%. The projected annual non-GAAP EPS is $1.73.

What is the Fund Sentiment?

There are 640 funds or institutions reporting positions in Flowserve. This is an increase of 15 owner(s) or 2.40% in the last quarter. Average portfolio weight of all funds dedicated to FLS is 0.23%, an increase of 22.18%. Total shares owned by institutions increased in the last three months by 0.81% to 159,389K shares. The put/call ratio of FLS is 0.45, indicating a bullish outlook.

What are large shareholders doing?

First Eagle Investment Management holds 11,009K shares representing 8.44% ownership of the company. In it's prior filing, the firm reported owning 10,730K shares, representing an increase of 2.54%. The firm decreased its portfolio allocation in FLS by 99.88% over the last quarter.

Wellington Management Group Llp holds 10,908K shares representing 8.36% ownership of the company. In it's prior filing, the firm reported owning 10,650K shares, representing an increase of 2.37%. The firm increased its portfolio allocation in FLS by 21.74% over the last quarter.

SGENX - First Eagle Global Fund holds 7,892K shares representing 6.05% ownership of the company. No change in the last quarter.

Harris Associates L P holds 6,495K shares representing 4.98% ownership of the company. In it's prior filing, the firm reported owning 6,546K shares, representing a decrease of 0.79%. The firm increased its portfolio allocation in FLS by 17.89% over the last quarter.

Beutel, Goodman & Co holds 6,419K shares representing 4.92% ownership of the company. In it's prior filing, the firm reported owning 6,433K shares, representing a decrease of 0.23%. The firm increased its portfolio allocation in FLS by 12.79% over the last quarter.

Flowserve Background Information
(This description is provided by the company.)

Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.

This story originally appeared on Fintel.