Sit Investment Associates Inc. Decreases Stock Position in Flowserve Corporation $FLS

Sit Investment Associates Inc. lessened its stake in Flowserve Corporation (NYSE:FLS) by 14.8% in the fourth quarter, HoldingsChannel reports. The fund 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 quarter.

Several other institutional investors also recently bought and sold shares of FLS. BOKF NA bought a new position in Flowserve during the 3rd quarter worth approximately $28,000. Atlas Capital Advisors Inc. bought a new stake in Flowserve in the fourth quarter valued at approximately $36,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Flowserve during the third quarter valued at approximately $36,000. IFP Advisors Inc boosted its stake in shares of Flowserve by 24.4% during 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. Finally, Parallel Advisors LLC grew its holdings in shares of Flowserve by 20.1% in 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 during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Brian D. Savoy bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, with a total value of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $67,340. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLS. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research note on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 15th. Weiss Ratings downgraded shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Flowserve in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.70.

Flowserve Price Performance

FLS opened at $81.77 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. Flowserve Corporation has a 52-week low of $45.11 and a 52-week high of $92.41. The stock has a market capitalization of $10.45 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. The stock’s 50 day moving average price is $76.18 and its 200-day moving average price is $76.70.

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

Flowserve Dividend Announcement

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

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.