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

Helios Technologies (NASDAQ:HLIO) had its price objective lowered by Stifel Nicolaus from $60.00 to $58.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Helios Technologies Price Performance

NASDAQ:HLIO opened at $40.42 on Wednesday. The company has a market cap of $1.34 billion, a P/E ratio of 35.77 and a beta of 0.87. The firm’s fifty day moving average price is $43.65 and its two-hundred day moving average price is $46.12. Helios Technologies has a one year low of $38.52 and a one year high of $57.29. 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 of Directors has approved a share repurchase plan on Monday, February 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Helios Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 20th. Shareholders 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 yield of 0.89%. Helios Technologies’s dividend payout ratio is currently 31.86%.

Institutional Investors Weigh In On Helios Technologies

Institutional investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. increased its position in Helios Technologies by 5,804.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 720,925 shares of the company’s stock worth $32,182,000 after acquiring an additional 708,715 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Helios Technologies by 30.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,820,140 shares of the company’s stock worth $86,821,000 after purchasing an additional 428,110 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Helios Technologies during the third quarter worth approximately $13,633,000. Conestoga Capital Advisors LLC raised its position in shares of Helios Technologies by 15.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company’s stock valued at $88,679,000 after buying an additional 266,127 shares in the last quarter. Finally, Sara Bay Financial boosted its stake 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 buying an additional 247,088 shares during the period. Institutional investors own 94.72% of the company’s stock.

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.