Sit Investment Associates Inc. Sells 34,472 Shares of Flowserve Corporation $FLS

Sit Investment Associates Inc. lowered its position in shares of Flowserve Corporation (NYSE:FLS) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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. owned 0.16% of Flowserve worth $13,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MidFirst Bank bought a new position in Flowserve in the 4th quarter valued at $382,000. Pacer Advisors Inc. increased its holdings in shares of Flowserve by 43.1% in the fourth quarter. Pacer Advisors Inc. now owns 33,923 shares of the industrial products company’s stock worth $2,354,000 after purchasing an additional 10,221 shares during the period. Monetary Solutions Ltd purchased a new stake in shares of Flowserve in the fourth quarter worth $891,000. T. Rowe Price Investment Management Inc. raised its position in shares of Flowserve by 102.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,731,665 shares of the industrial products company’s stock worth $120,143,000 after buying an additional 877,327 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Flowserve by 33.1% during the fourth quarter. Invesco Ltd. now owns 329,749 shares of the industrial products company’s stock valued at $22,878,000 after buying an additional 81,996 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. TD Cowen restated a “buy” rating on shares of Flowserve in a research report on Friday, May 1st. Zacks Research lowered shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Wall Street Zen cut shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Citigroup reissued a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

Insider Buying and Selling at Flowserve

In other Flowserve news, Director Brian D. Savoy acquired 1,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.71% of the company’s stock.

Flowserve Price Performance

Shares of Flowserve stock opened at $81.77 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. The firm 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 business’s 50-day moving average price is $76.18 and its 200-day moving average price is $76.70. Flowserve Corporation has a 12 month low of $45.11 and a 12 month high of $92.41.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 annualized dividend and a dividend yield of 1.1%. Flowserve’s dividend payout ratio (DPR) 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.