Northern Trust Corp lifted its position in shares of Profire Energy, Inc. (NASDAQ:PFIE) by 614.7% in the second quarter, Holdings Channel reports. The institutional investor owned 267,652 shares of the oil and gas company’s stock after acquiring an additional 230,200 shares during the quarter. Northern Trust Corp’s holdings in Profire Energy were worth $904,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PFIE. Cadence Capital Management LLC increased its holdings in Profire Energy by 15.1% in the 2nd quarter. Cadence Capital Management LLC now owns 543,936 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 71,166 shares during the last quarter. Granahan Investment Management Inc. MA lifted its position in shares of Profire Energy by 24.1% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 744,366 shares of the oil and gas company’s stock worth $2,516,000 after purchasing an additional 144,315 shares during the last quarter. Navellier & Associates Inc purchased a new stake in shares of Profire Energy during the 2nd quarter worth $984,000. Sei Investments Co. purchased a new stake in shares of Profire Energy during the 2nd quarter worth $2,266,000. Finally, BlackRock Inc. lifted its position in shares of Profire Energy by 2,023.6% during the 2nd quarter. BlackRock Inc. now owns 1,522,572 shares of the oil and gas company’s stock worth $5,146,000 after purchasing an additional 1,450,876 shares during the last quarter. Institutional investors and hedge funds own 44.13% of the company’s stock.
Several research firms have recently issued reports on PFIE. Maxim Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Profire Energy in a research report on Friday, August 10th. ValuEngine cut shares of Profire Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research cut shares of Profire Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th.
Profire Energy (NASDAQ:PFIE) last released its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $11.82 million. Profire Energy had a net margin of 14.29% and a return on equity of 14.66%. As a group, research analysts anticipate that Profire Energy, Inc. will post 0.14 earnings per share for the current year.
About Profire Energy
Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.
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