Pure Cycle (NASDAQ:PCYO) Rating Lowered to “Hold” at StockNews.com

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

Pure Cycle Stock Down 3.4 %

Shares of NASDAQ PCYO opened at $11.57 on Friday. Pure Cycle has a 12-month low of $8.94 and a 12-month high of $14.63. The firm has a market cap of $278.55 million, a PE ratio of 24.10 and a beta of 1.03. The company’s fifty day simple moving average is $12.98 and its 200 day simple moving average is $11.24. The company has a quick ratio of 3.66, a current ratio of 4.05 and a debt-to-equity ratio of 0.05.

Pure Cycle (NASDAQ:PCYO) last released its quarterly earnings data on Wednesday, January 8th. The utilities provider reported $0.16 earnings per share 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 dated Thursday, November 21st. The shares were sold at an average price of $13.10, for a total value of $262,000.00. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 17.20% of the company’s stock.

Institutional Trading of Pure Cycle

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Pure Cycle by 10.7% in the third quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider’s stock valued at $5,500,000 after purchasing an additional 49,272 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pure Cycle by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 58,612 shares of the utilities provider’s stock worth $631,000 after buying an additional 3,050 shares during the last quarter. State Street Corp increased its holdings in Pure Cycle by 2.5% during the third quarter. State Street Corp now owns 412,332 shares of the utilities provider’s stock worth $4,441,000 after buying an additional 10,124 shares during the last quarter. Barclays PLC increased its holdings 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 buying an additional 19,646 shares during the last quarter. Finally, Tealwood Asset Management Inc. purchased a new stake in Pure Cycle during the third quarter worth about $1,267,000. Hedge funds and other institutional investors own 51.39% of the company’s stock.

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.