Pure Cycle (NASDAQ:PCYO) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Pure Cycle (NASDAQ:PCYO) from a buy rating to a hold rating in a research note published on Friday.

Pure Cycle Trading Down 3.4 %

Shares of NASDAQ PCYO opened at $11.57 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.66 and a current ratio of 4.05. Pure Cycle has a 52-week low of $8.94 and a 52-week high of $14.63. The firm has a 50 day moving average price of $12.98 and a two-hundred day moving average price of $11.24. The stock has a market cap of $278.55 million, a P/E ratio of 24.10 and a beta of 1.03.

Pure Cycle (NASDAQ:PCYO) last announced its quarterly earnings results on Wednesday, January 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter. Pure Cycle had a net margin of 40.40% and a return on equity of 9.41%.

Insider Buying and Selling at Pure Cycle

In other news, Director Daniel R. Kozlowski sold 20,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.10, for a total transaction of $262,000.00. Following the completion of the sale, the director now directly owns 2,668,778 shares in the company, valued at $34,960,991.80. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Pure Cycle

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of Pure Cycle by 16.7% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,671 shares during the period. JPMorgan Chase & Co. boosted its stake in Pure Cycle by 58.6% during the third quarter. JPMorgan Chase & Co. now owns 14,359 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 5,305 shares in the last quarter. Barclays PLC boosted its stake in Pure Cycle by 253.9% during the third quarter. Barclays PLC now owns 27,385 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 19,646 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Pure Cycle by 7.0% during the second quarter. Los Angeles Capital Management LLC now owns 28,830 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Pure Cycle by 24.0% during the second quarter. Rhumbline Advisers now owns 33,088 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 6,398 shares in the last quarter. 51.39% of the stock is currently owned by institutional investors and hedge funds.

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 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.