Helios Technologies (NASDAQ:HLIO) Price Target Cut to $58.00 by Analysts at Stifel Nicolaus

Helios Technologies (NASDAQ:HLIO) had its price target trimmed by Stifel Nicolaus from $60.00 to $58.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Helios Technologies Price Performance

NASDAQ HLIO opened at $39.44 on Wednesday. Helios Technologies has a 12 month low of $38.52 and a 12 month high of $57.29. The firm has a market capitalization of $1.31 billion, a PE ratio of 34.90 and a beta of 0.87. The company’s 50 day simple moving average is $43.51 and its 200 day simple moving average is $46.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.03 and a quick ratio of 1.54.

Helios Technologies declared that its board has initiated a share repurchase program on Monday, February 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Helios Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 20th. Stockholders of record on Friday, January 3rd were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Helios Technologies’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On Helios Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of HLIO. Vanguard Group Inc. grew its stake in shares of Helios Technologies by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,328,127 shares of the company’s stock worth $148,568,000 after purchasing an additional 13,059 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Helios Technologies by 15.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company’s stock worth $88,679,000 after buying an additional 266,127 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Helios Technologies by 1.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,841,823 shares of the company’s stock worth $82,219,000 after buying an additional 21,683 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Helios Technologies by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,438,786 shares of the company’s stock valued at $64,227,000 after buying an additional 79,178 shares in the last quarter. Finally, Sara Bay Financial lifted its position in shares of Helios Technologies by 25.5% during the 4th quarter. Sara Bay Financial now owns 1,217,467 shares of the company’s stock valued at $54,080,000 after acquiring an additional 247,088 shares during the last quarter. 94.72% of the stock is currently owned by institutional investors.

About Helios Technologies

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.