Rice Hall James & Associates LLC Increases Stock Holdings in Flowco Holdings Inc. $FLOC

Rice Hall James & Associates LLC increased its holdings in shares of Flowco Holdings Inc. (NYSE:FLOC) by 1,471.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 162,793 shares of the company’s stock after acquiring an additional 152,431 shares during the period. Rice Hall James & Associates LLC’s holdings in Flowco were worth $3,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLOC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flowco during the 1st quarter valued at approximately $298,000. Goldman Sachs Group Inc. purchased a new position in shares of Flowco during the 1st quarter valued at approximately $878,000. Woodline Partners LP purchased a new position in shares of Flowco during the 1st quarter valued at approximately $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Flowco during the 1st quarter valued at approximately $3,070,000. Finally, Strs Ohio purchased a new position in shares of Flowco during the 1st quarter valued at approximately $92,000.

Wall Street Analyst Weigh In

FLOC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Piper Sandler increased their target price on Flowco from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Jefferies Financial Group restated a “buy” rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Zacks Research lowered Flowco from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered Flowco from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Flowco Stock Down 2.1%

NYSE FLOC opened at $23.12 on Wednesday. The business’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $21.92. The company has a quick ratio of 1.48, a current ratio of 3.09 and a debt-to-equity ratio of 1.00. The firm has a market cap of $2.09 billion, a PE ratio of 19.76 and a beta of 0.83. Flowco Holdings Inc. has a 52 week low of $14.03 and a 52 week high of $28.26.

Flowco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Friday, May 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Flowco’s previous quarterly dividend of $0.08. Flowco’s dividend payout ratio is 30.77%.

Insiders Place Their Bets

In other Flowco news, Director Jonathan B. Fairbanks sold 7,800,000 shares of Flowco stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $21.18, for a total value of $165,204,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 69.76% of the stock is currently owned by corporate insiders.

Flowco Company Profile

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.