American Century Companies Inc. Invests $50.59 Million in Flowco Holdings Inc. $FLOC

Key Points

• American Century Companies Inc. has acquired a significant stake of approximately 1,972,180 shares in Flowco Holdings Inc., valued at around $50.6 million.
• Flowco recently reported earnings of $1.26 per share, exceeding expectations by $0.94, alongside revenues of $193.21 million for the quarter.
• The company has also authorized a $50 million stock buyback plan and declared a quarterly dividend of $0.08, reflecting a yield of 2.0%.

American Century Companies Inc. acquired a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,972,180 shares of the company's stock, valued at approximately $50,586,000. American Century Companies Inc. owned 2.18% of Flowco as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLOC. New York State Common Retirement Fund purchased a new position in shares of Flowco during the first quarter worth $156,000. Yorktown Management & Research Co Inc acquired a new position in Flowco during the 1st quarter worth about $218,000. Deutsche Bank AG purchased a new position in Flowco during the 1st quarter valued at about $292,000. Invesco Ltd. acquired a new position in Flowco in the 1st quarter valued at about $292,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Flowco during the first quarter worth about $305,000.

Flowco Stock Down 3.3%

Flowco stock traded down $0.55 during midday trading on Monday, reaching $15.97. The company's stock had a trading volume of 314,093 shares, compared to its average volume of 375,041. The company has a market cap of $1.45 billion and a P/E ratio of 8.68. The company has a quick ratio of 1.57, a current ratio of 3.25 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $17.59 and a 200-day simple moving average of $20.20. Flowco Holdings Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $30.50.

Flowco (NYSE:FLOC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.94. The business had revenue of $193.21 million during the quarter, compared to analysts' expectations of $190.16 million. On average, research analysts expect that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Flowco declared that its board has approved a share buyback plan on Thursday, June 12th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Flowco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. Flowco's dividend payout ratio (DPR) is presently 17.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Flowco from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI cut their price objective on Flowco from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler decreased their target price on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $29.40.

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.