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

Sit Investment Associates Inc. lowered its holdings in shares of Flowserve Corporation (NYSE:FLS) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,050 shares of the industrial products company’s stock after selling 34,472 shares during the quarter. Sit Investment Associates Inc. owned 0.16% of Flowserve worth $13,810,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FLS. JPMorgan Chase & Co. increased its position in shares of Flowserve by 625.5% during the third quarter. JPMorgan Chase & Co. now owns 2,314,195 shares of the industrial products company’s stock worth $122,978,000 after acquiring an additional 1,995,221 shares during the period. Norges Bank bought a new stake in Flowserve during the 4th quarter valued at $117,964,000. UBS Group AG lifted its holdings in shares of Flowserve by 67.8% in the 3rd quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after buying an additional 1,676,284 shares during the period. Merewether Investment Management LP bought a new position in shares of Flowserve during the 2nd quarter worth $46,555,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Flowserve by 36.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,330,723 shares of the industrial products company’s stock valued at $161,706,000 after buying an additional 626,100 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 7.2%

Flowserve stock opened at $78.07 on Friday. The business’s 50-day simple moving average is $75.78 and its two-hundred day simple moving average is $76.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.63 and a current ratio of 2.22. The company has a market cap of $9.98 billion, a PE ratio of 28.92, a PEG ratio of 1.64 and a beta of 1.22. Flowserve Corporation has a fifty-two week low of $45.11 and a fifty-two week high of $92.41.

Flowserve (NYSE:FLS) last released its 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 firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s 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. Equities analysts anticipate that Flowserve Corporation will post 4.05 EPS for the current year.

Flowserve Dividend Announcement

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

Insider Buying and Selling

In related news, Director Brian D. Savoy purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought 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 of the company’s stock, valued at approximately $67,340. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FLS. Citigroup restated a “buy” rating on shares of Flowserve in a report on Thursday, April 30th. Stifel Nicolaus set a $92.00 price objective on Flowserve in a research note on Friday, May 1st. Jefferies Financial Group reiterated 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. TD Cowen restated a “buy” rating on shares of Flowserve in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Flowserve from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.70.

Flowserve 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.