LPM means liter per minute, which does not provide enough information about the number of pulses / clicks.
‘1.037 pulses per lpm’ has the wrong unit — it should be pulses per liter or something like that. I think 1.037 pulse per liter sounds quite slow — a flow meter like this generally produces a lot of clicks. For example, this sensor:
which is similar to yours, specifies the pulse per liter is:
Pulses per Liter: 450
or in otherwords, liter per pulse is 1/450.