What an incredible range of replies to what appears to be a simple problem. I will offer yet another (although very similar to the last comment by Valvecrazy). If the system was designed for four pumps, I suspect that the suction is adequate. I also suspect that the discharge is adequate for a much higher flow that the single pump is delivering. I would tend to think that this lone pump is simply running against a system that was designed for much more flow (multiple pumps running, not just one). So, with just a single pump, that pump has very little system resistance and is running off the end of the curve. I don't know why you dislike an orifice plate. You could pinch on your valve, determine the DP across the valve that corresponds to smooth pump operation and then size an orifice plate that will produce that same DP. Slowing down the pump could also be a good options, but difficult if it is a motor. Trimming the impeller could work, but if you need a variety of flow rates, it will be difficult to put that material back if you need it later. You can always open up the orifice if you need more flow in the future or if your system resistance increases.
Johnny Pellin