Royce & Associates LP Grows Holdings in Flowco Holdings Inc. $FLOC

Key Points

• Royce & Associates LP increased its stake in Flowco by 56.4% in Q3, adding 102,000 shares to hold 283,000 shares (0.31%) valued at about $4.20 million.
• Insiders sold stock: EVP Chad Roberts sold 54,706 shares on Feb. 3 for roughly $1.22 million, and insiders have sold 144,043 shares (≈$3.06 million) over the past 90 days.
• Analyst sentiment is largely positive with a consensus rating of "Moderate Buy" and a consensus price target of $27.25, while several firms have issued Buy/Outperform ratings and higher targets (e.g., Jefferies $30, BMO $26).

Royce & Associates LP raised its holdings in shares of Flowco Holdings Inc. (NYSE:FLOC - Free Report) by 56.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,000 shares of the company's stock after purchasing an additional 102,000 shares during the quarter. Royce & Associates LP owned 0.31% of Flowco worth $4,203,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in Flowco by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company's stock valued at $47,000 after buying an additional 1,292 shares in the last quarter. Strs Ohio bought a new stake in shares of Flowco during the first quarter valued at approximately $92,000. CWM LLC boosted its holdings in shares of Flowco by 183.6% in the third quarter. CWM LLC now owns 3,667 shares of the company's stock valued at $54,000 after purchasing an additional 2,374 shares during the period. US Bancorp DE bought a new position in Flowco in the third quarter worth approximately $61,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Flowco by 38.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,785 shares of the company's stock worth $85,000 after purchasing an additional 1,317 shares during the period.

Flowco Stock Performance

FLOC stock opened at $23.11 on Thursday. The firm has a 50-day simple moving average of $20.95 and a two-hundred day simple moving average of $17.94. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $26.74. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 19.58 and a beta of -0.16.

Flowco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. Flowco's payout ratio is currently 27.12%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FLOC shares. Wall Street Zen raised Flowco from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Evercore reiterated an "outperform" rating and set a $25.00 target price on shares of Flowco in a report on Thursday, November 6th. Jefferies Financial Group restated a "buy" rating and issued a $30.00 price target on shares of Flowco in a report on Monday, February 2nd. Piper Sandler reaffirmed an "overweight" rating on shares of Flowco in a research report on Tuesday, December 9th. Finally, BMO Capital Markets lifted their price objective on shares of Flowco from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.25.

Insider Activity

In other news, EVP Chad Roberts sold 54,706 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.39, for a total transaction of $1,224,867.34. Following the completion of the sale, the executive vice president owned 67,008 shares in the company, valued at approximately $1,500,309.12. This represents a 44.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 144,043 shares of company stock worth $3,056,720 over the last 90 days.

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.

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