Raymond James Financial Inc. Purchases New Holdings in Helios Technologies, Inc. (NASDAQ:HLIO)

Raymond James Financial Inc. bought a new position in Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 172,389 shares of the company's stock, valued at approximately $7,696,000. Raymond James Financial Inc. owned approximately 0.52% of Helios Technologies at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Conestoga Capital Advisors LLC increased its holdings in Helios Technologies by 15.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company's stock worth $88,679,000 after purchasing an additional 266,127 shares during the period. Sara Bay Financial raised its holdings in shares of Helios Technologies by 25.5% in the fourth 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 in the last quarter. State Street Corp lifted its stake in Helios Technologies by 0.6% in the third quarter. State Street Corp now owns 773,777 shares of the company's stock worth $36,909,000 after acquiring an additional 4,699 shares during the period. Geode Capital Management LLC grew its holdings in Helios Technologies by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 752,544 shares of the company's stock worth $35,904,000 after acquiring an additional 7,871 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Helios Technologies by 5,804.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 720,925 shares of the company's stock valued at $32,182,000 after purchasing an additional 708,715 shares during the period. 94.72% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price target on shares of Helios Technologies from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th.

Helios Technologies Stock Down 0.9 %

NASDAQ HLIO traded down $0.30 during midday trading on Wednesday, hitting $34.07. 103,162 shares of the company traded hands, compared to its average volume of 189,176. The company has a market cap of $1.13 billion, a PE ratio of 30.15 and a beta of 0.90. 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, Inc. has a 52 week low of $33.10 and a 52 week high of $57.29. The company's 50-day simple moving average is $40.26 and its 200-day simple moving average is $45.23.

Helios Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, April 4th. Helios Technologies's dividend payout ratio is currently 30.77%.

Helios Technologies announced that its board has approved a stock repurchase plan on Monday, February 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.