Flowserve Corporation $FLS Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. trimmed its holdings in shares of Flowserve Corporation (NYSE:FLS) by 14.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 199,050 shares of the industrial products company’s stock after selling 34,472 shares during the period. Sit Investment Associates Inc.’s holdings in Flowserve were worth $13,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in Flowserve by 3.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,181 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 157 shares during the last quarter. Parallel Advisors LLC raised its holdings in Flowserve by 20.1% during the third quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 162 shares in the last quarter. IFP Advisors Inc lifted its position in Flowserve by 24.4% in the third quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 163 shares during the period. O Shaughnessy Asset Management LLC increased its position in Flowserve by 1.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,002 shares of the industrial products company’s stock worth $1,318,000 after purchasing an additional 193 shares during the period. Finally, Measured Wealth Private Client Group LLC boosted its stake in shares of Flowserve by 31.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 880 shares of the industrial products company’s stock valued at $61,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FLS shares. TD Cowen restated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Weiss Ratings lowered Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a report on Tuesday, March 31st. Finally, Stifel Nicolaus set a $92.00 price objective on shares of Flowserve in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.70.

Flowserve Trading Up 7.2%

Shares of FLS stock opened at $78.07 on Friday. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41. The firm’s 50-day simple moving average is $75.78 and its 200-day simple moving average is $76.37. The firm has a market cap of $9.98 billion, a P/E ratio of 28.92, a PEG ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. As a group, equities analysts forecast that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 26th. Flowserve’s dividend payout ratio is presently 32.59%.

Insider Activity at Flowserve

In related news, Director Brian D. Savoy purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $67,340. The trade was a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.

Flowserve Company Profile

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.