American Century Companies Inc. Grows Stock Position in Flowco Holdings Inc. $FLOC

American Century Companies Inc. raised its position in Flowco Holdings Inc. (NYSE:FLOC) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,770,917 shares of the company’s stock after buying an additional 40,479 shares during the quarter. American Century Companies Inc. owned about 3.06% of Flowco worth $41,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flowco in the first quarter valued at $298,000. Goldman Sachs Group Inc. purchased a new position in Flowco during the first quarter valued at approximately $878,000. Woodline Partners LP purchased a new stake in shares of Flowco in the first quarter worth $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Flowco during the 1st quarter valued at about $3,070,000. Finally, Strs Ohio bought a new position in Flowco in the first quarter valued at $92,000.

Flowco Price Performance

FLOC stock opened at $23.31 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. The company’s fifty day moving average price is $21.15 and its 200-day moving average price is $18.02. Flowco Holdings Inc. has a one year low of $14.03 and a one year high of $26.74. The company has a market capitalization of $2.09 billion, a PE ratio of 19.75 and a beta of -0.16.

Flowco Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research report on Friday, January 9th. Wall Street Zen raised shares of Flowco from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Zacks Research upgraded shares of Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flowco in a research note on Monday, February 2nd. Finally, BMO Capital Markets increased their target price on shares of Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Insiders Place Their Bets

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 67,008 shares in the company, valued at $1,500,309.12. This represents a 44.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 144,043 shares of company stock worth $3,056,720 over the last quarter.

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.