Emerald Mutual Fund Advisers Trust Makes New Investment in Flowco Holdings Inc. $FLOC

Key Points

• Emerald Mutual Fund Advisers Trust opened a new position in Flowco Holdings during the first quarter, buying 231,287 shares worth about $4.77 million and taking a 0.26% stake in the company.
• Several other institutional investors also adjusted their holdings in FLOC, including notable increases from JPMorgan Chase, Peregrine Capital Management, and Royce & Associates, signaling ongoing institutional interest.
• Flowco recently raised its quarterly dividend to $0.09 per share from $0.08, and analysts currently view the stock as a Moderate Buy with a consensus price target of $29.40.

Emerald Mutual Fund Advisers Trust bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 231,287 shares of the company's stock, valued at approximately $4,765,000. Emerald Mutual Fund Advisers Trust owned 0.26% of Flowco as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC increased its position in Flowco by 16.1% in the 4th quarter. Peregrine Capital Management LLC now owns 478,648 shares of the company's stock worth $8,970,000 after purchasing an additional 66,482 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Flowco by 57.9% in the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company's stock worth $48,859,000 after buying an additional 1,206,020 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Flowco during the third quarter worth $1,634,000. Royce & Associates LP raised its position in shares of Flowco by 12.5% during the fourth quarter. Royce & Associates LP now owns 318,500 shares of the company's stock valued at $5,969,000 after buying an additional 35,500 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Flowco in the 1st quarter worth approximately $1,099,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLOC. Wall Street Zen downgraded shares of Flowco from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research lowered Flowco from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Jefferies Financial Group restated a "buy" rating and issued a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Finally, Citigroup began coverage on Flowco in a report on Thursday, May 28th. They set a "neutral" rating and a $31.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Flowco has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Flowco Price Performance

Shares of FLOC opened at $20.82 on Tuesday. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $28.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company's 50-day moving average is $23.64 and its 200-day moving average is $22.36. The firm has a market capitalization of $1.88 billion, a PE ratio of 17.79 and a beta of 0.89.

Flowco Increases Dividend

The business also recently declared 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 is an increase from Flowco's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 15th. Flowco's dividend payout ratio (DPR) is currently 30.77%.

Flowco 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.

Want to see what other hedge funds are holding FLOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowco Holdings Inc. (NYSE:FLOC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.