Victory Capital Management Inc. Buys New Holdings in Helios Technologies, Inc. $HLIO

Key Points

• Victory Capital Management bought a new position in Helios Technologies (NASDAQ:HLIO) of 280,040 shares worth about $14.6 million, representing roughly 0.85% of the company.
• Multiple other institutions (e.g., Thrivent, Bank of America, Geode, Vaughan Nelson, William Blair) also boosted stakes, leaving institutional ownership at 94.72%.
• Helios recently beat EPS expectations ($0.81 vs. $0.72) with revenue up 17.4%; the company has a $2.18B market cap, a high P/E of 58.32, and a Wall Street consensus "Buy" with an average target of $71.75.

Victory Capital Management Inc. purchased a new position in Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 280,040 shares of the company's stock, valued at approximately $14,598,000. Victory Capital Management Inc. owned approximately 0.85% of Helios Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Helios Technologies by 7.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,530,525 shares of the company's stock worth $79,787,000 after purchasing an additional 112,213 shares during the period. Bank of America Corp DE grew its position in Helios Technologies by 7.9% in the 2nd quarter. Bank of America Corp DE now owns 932,366 shares of the company's stock valued at $31,113,000 after purchasing an additional 68,182 shares during the period. Geode Capital Management LLC increased its stake in Helios Technologies by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 789,981 shares of the company's stock valued at $26,365,000 after purchasing an additional 26,098 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Helios Technologies by 28.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 775,417 shares of the company's stock valued at $40,422,000 after purchasing an additional 170,050 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Helios Technologies by 16.7% during the third quarter. William Blair Investment Management LLC now owns 735,721 shares of the company's stock worth $38,353,000 after buying an additional 105,334 shares during the last quarter. Institutional investors and hedge funds own 94.72% of the company's stock.

Helios Technologies Trading Up 0.5%

NASDAQ HLIO opened at $65.90 on Wednesday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 58.32 and a beta of 1.26. The business has a fifty day simple moving average of $67.13 and a 200 day simple moving average of $58.60. Helios Technologies, Inc. has a 12 month low of $24.76 and a 12 month high of $76.47. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.

Helios Technologies (NASDAQ:HLIO - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.09. Helios Technologies had a net margin of 4.57% and a return on equity of 8.22%. The firm's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, analysts predict that Helios Technologies, Inc. will post 2.06 EPS for the current fiscal year.

Helios Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, January 7th. Helios Technologies's dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HLIO shares. JPMorgan Chase & Co. started coverage on shares of Helios Technologies in a research note on Tuesday, January 20th. They issued an "overweight" rating and a $80.00 price objective on the stock. KeyCorp boosted their target price on shares of Helios Technologies from $74.00 to $82.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Finally, Stifel Nicolaus raised their price target on shares of Helios Technologies from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, Helios Technologies currently has a consensus rating of "Buy" and an average target price of $71.75.

Helios Technologies Company Profile

Helios Technologies, Inc is a global designer, manufacturer and distributor of highly engineered motion and electronic controls solutions. Headquartered in Sarasota, Florida, the company serves original equipment manufacturers (OEMs) across mobile and industrial end markets, including agriculture, construction, material handling, oil and gas, and renewable energy. Established in 2018 through a carve-out of established hydraulic and electronic control businesses, Helios has rapidly built scale through strategic acquisitions, broadening its product portfolio and geographic reach.

The company's Motion Technologies segment offers a comprehensive suite of hydraulic products, including gear pumps, piston pumps and motors, directional and proportional valves, cylinders, reservoirs, filtration systems and accumulators.

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