Nuveen LLC Makes New Investment in Flowco Holdings Inc. $FLOC

Key Points

• Nuveen LLC has acquired a new position in Flowco Holdings Inc. (NYSE:FLOC) by purchasing 25,108 shares valued at approximately $644,000 in the first quarter.
• Flowco reported a strong quarterly earnings result of $1.26 EPS, significantly exceeding analyst expectations of $0.32, along with a revenue of $193.21 million.
• The company declared a quarterly dividend of $0.08 per share, translating to an annual yield of 2.0%, while also announcing a buyback plan of up to $50 million in outstanding shares.

Nuveen LLC bought a new stake in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,108 shares of the company's stock, valued at approximately $644,000.

Several other hedge funds have also recently made changes to their positions in FLOC. New York State Common Retirement Fund purchased a new position in shares of Flowco in the 1st quarter worth about $156,000. Yorktown Management & Research Co Inc purchased a new stake in Flowco during the 1st quarter valued at $218,000. Deutsche Bank AG purchased a new position in shares of Flowco in the 1st quarter worth $292,000. Invesco Ltd. purchased a new position in shares of Flowco in the 1st quarter worth $292,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Flowco during the first quarter valued at about $305,000.

Wall Street Analyst Weigh In

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

Flowco Price Performance

NYSE:FLOC traded down $0.35 on Monday, reaching $15.21. The stock had a trading volume of 202,508 shares, compared to its average volume of 437,572. Flowco Holdings Inc. has a 1-year low of $14.89 and a 1-year high of $30.50. The stock has a fifty day moving average price of $17.32 and a 200-day moving average price of $19.52. The company has a market capitalization of $1.38 billion and a P/E ratio of 8.27. The company has a quick ratio of 1.57, a current ratio of 3.25 and a debt-to-equity ratio of 1.19.

Flowco (NYSE:FLOC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.94. The firm had revenue of $193.21 million during the quarter, compared to analyst estimates of $190.16 million. Research analysts forecast that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco announced that its board has authorized a share repurchase program on Thursday, June 12th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Flowco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 15th. This represents a $0.32 annualized dividend and a yield of 2.1%. Flowco's dividend payout ratio is currently 17.39%.

About Flowco

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.