Pure Cycle (NASDAQ:PCYO – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.
Pure Cycle Price Performance
Shares of NASDAQ PCYO opened at $10.62 on Friday. The firm’s 50 day simple moving average is $8.79 and its 200-day simple moving average is $9.90. Pure Cycle has a 12 month low of $7.77 and a 12 month high of $15.72. The stock has a market capitalization of $253.18 million, a price-to-earnings ratio of 27.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.49 and a quick ratio of 3.49.
Institutional Trading of Pure Cycle
A number of large investors have recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in shares of Pure Cycle by 66.5% in the first quarter. M&T Bank Corp now owns 17,271 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 6,895 shares during the period. Principal Financial Group Inc. increased its position in Pure Cycle by 27.8% during the 1st quarter. Principal Financial Group Inc. now owns 16,066 shares of the utilities provider’s stock worth $193,000 after purchasing an additional 3,493 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Pure Cycle by 123.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 26,250 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 14,500 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Pure Cycle by 22.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 39,208 shares of the utilities provider’s stock valued at $471,000 after buying an additional 7,230 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Pure Cycle by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 10,581 shares of the utilities provider’s stock valued at $127,000 after buying an additional 3,752 shares during the period. 63.96% of the stock is currently owned by hedge funds and other institutional investors.
About Pure Cycle
Pure Cycle Corporation designs, constructs, operates, and maintains water and wastewater systems in the Denver metropolitan area and Colorado Front Range in the United States. It operates in two segments, Wholesale Water and Wastewater Services, and Land Development. The company engages in the wholesale water production, storage, treatment, and distribution systems; wastewater collection and treatment systems; development of master-planned community; and oil and gas leasing business.