Flowco Holdings Inc. $FLOC Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Flowco Holdings Inc. (NYSE:FLOC) by 38.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,730,438 shares of the company’s stock after buying an additional 758,258 shares during the quarter. American Century Companies Inc.’s holdings in Flowco were worth $48,629,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FLOC. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Flowco by 38.0% during the second 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 last quarter. Strs Ohio acquired a new stake in Flowco during the 1st quarter worth about $92,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Flowco during the 2nd quarter valued at about $208,000. Corebridge Financial Inc. acquired a new position in shares of Flowco in the 1st quarter valued at about $247,000. Finally, Deutsche Bank AG purchased a new stake in shares of Flowco in the first quarter worth about $292,000.

Insiders Place Their Bets

In other news, EVP Chad Roberts sold 55,173 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $18.26, for a total transaction of $1,007,458.98. Following the transaction, the executive vice president directly owned 332,327 shares in the company, valued at $6,068,291.02. The trade was a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Flowco Trading Up 1.4%

Shares of FLOC opened at $16.99 on Friday. Flowco Holdings Inc. has a 52-week low of $14.03 and a 52-week high of $30.50. The stock has a market cap of $1.52 billion and a PE ratio of 5.66. The firm’s fifty day moving average is $15.89 and its two-hundred day moving average is $16.88. The company has a quick ratio of 1.33, a current ratio of 2.90 and a debt-to-equity ratio of 0.63.

Flowco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were issued a $0.08 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.9%. Flowco’s dividend payout ratio is presently 10.67%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research raised shares of Flowco from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Flowco in a research note on Tuesday, October 14th. Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Flowco in a research report on Friday, November 7th. Jefferies Financial Group set a $28.00 price objective on Flowco and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Evercore ISI reiterated an “outperform” rating and set a $25.00 target price on shares of Flowco in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Flowco has a consensus rating of “Moderate Buy” and an average price target of $29.20.

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.