Vanguard Group Inc. Makes New $45.02 Million Investment in Flowco Holdings Inc. $FLOC

Vanguard Group Inc. bought a new stake in Flowco Holdings Inc. (NYSE:FLOC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,755,241 shares of the company’s stock, valued at approximately $45,022,000. Vanguard Group Inc. owned about 1.94% of Flowco at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in Flowco during the 1st quarter worth $156,000. Yorktown Management & Research Co Inc purchased a new position in Flowco in the 1st quarter valued at $218,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Flowco during the first quarter worth about $305,000. Sigma Planning Corp purchased a new position in shares of Flowco during the 1st quarter worth approximately $359,000. Finally, Readystate Asset Management LP acquired a new stake in Flowco in the first quarter valued at $788,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FLOC. Piper Sandler reduced their price target on shares of Flowco from $33.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a “buy” rating in a report on Tuesday, August 5th. Evercore ISI reduced their target price 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, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.40.

Flowco Stock Down 3.3%

NYSE:FLOC opened at $15.97 on Tuesday. Flowco Holdings Inc. has a 52 week low of $14.89 and a 52 week high of $30.50. The company has a current ratio of 3.25, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average of $17.59 and a 200-day moving average of $20.20. The firm has a market capitalization of $1.45 billion and a PE ratio of 8.68.

Flowco (NYSE:FLOC) last posted its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.94. The company had revenue of $193.21 million during the quarter, compared to the consensus estimate of $190.16 million. Analysts predict that Flowco Holdings Inc. will post 1.54 EPS for the current year.

Flowco declared that its board has approved a stock buyback plan on Thursday, June 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th. Flowco’s payout ratio is 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.