Peregrine Capital Management LLC Increases Stake in Flowco Holdings Inc. $FLOC

Peregrine Capital Management LLC grew its stake in shares of Flowco Holdings Inc. (NYSE:FLOC) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 478,648 shares of the company’s stock after purchasing an additional 66,482 shares during the quarter. Peregrine Capital Management LLC’s holdings in Flowco were worth $8,970,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Flowco by 57.9% during the third quarter. JPMorgan Chase & Co. now owns 3,290,164 shares of the company’s stock valued at $48,859,000 after acquiring an additional 1,206,020 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Flowco by 1.5% during the third quarter. American Century Companies Inc. now owns 2,770,917 shares of the company’s stock valued at $41,148,000 after buying an additional 40,479 shares during the period. Vanguard Group Inc. raised its holdings in shares of Flowco by 6.9% during the third quarter. Vanguard Group Inc. now owns 1,848,250 shares of the company’s stock valued at $27,447,000 after acquiring an additional 118,628 shares in the last quarter. Schroder Investment Management Group increased its position in Flowco by 37.6% during the 3rd quarter. Schroder Investment Management Group now owns 687,713 shares of the company’s stock valued at $10,522,000 after purchasing an additional 187,827 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Flowco by 56.4% in the 3rd quarter. Royce & Associates LP now owns 283,000 shares of the company’s stock worth $4,203,000 after purchasing an additional 102,000 shares during the period.

Analyst Ratings Changes

FLOC has been the subject of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $30.00 price target on shares of Flowco in a research note on Monday, February 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Wall Street Zen upgraded Flowco from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. BMO Capital Markets upped their price target on Flowco from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research raised Flowco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Flowco has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Insider Activity

In other Flowco news, Director Jonathan B. Fairbanks sold 1,170,000 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $21.18, for a total value of $24,780,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 approximately $1,500,309.12. The trade was a 44.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,073,890 shares of company stock valued at $192,265,282 over the last quarter. 69.76% of the stock is owned by corporate insiders.

Flowco Stock Up 1.1%

NYSE:FLOC traded up $0.27 on Thursday, reaching $23.72. 10,950 shares of the stock traded hands, compared to its average volume of 548,294. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 20.07 and a beta of 0.18. The company has a current ratio of 3.34, a quick ratio of 1.42 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $22.45 and its 200 day simple moving average is $19.54. Flowco Holdings Inc. has a 12 month low of $14.03 and a 12 month high of $24.91.

Flowco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were paid a $0.08 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. Flowco’s payout ratio is currently 27.12%.

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.