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

Pure Cycle (NASDAQ:PCYO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Pure Cycle Stock Performance

Shares of Pure Cycle stock traded down $0.41 during trading hours on Friday, reaching $11.57. The company’s stock had a trading volume of 100,529 shares, compared to its average volume of 56,204. The company’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $11.24. 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 one year low of $8.94 and a one year high of $14.63. 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 released its earnings results on Wednesday, January 8th. The utilities provider reported $0.16 EPS for the quarter. Pure Cycle had a net margin of 40.40% and a return on equity of 9.41%.

Insider Activity

In other Pure Cycle news, Director Daniel R. Kozlowski sold 20,000 shares of the firm’s 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 transaction, the director now directly owns 2,668,778 shares in the company, valued at $34,960,991.80. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Pure Cycle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCYO. Geode Capital Management LLC increased its position in Pure Cycle by 10.7% during the third quarter. Geode Capital Management LLC now owns 510,549 shares of the utilities provider’s stock worth $5,500,000 after acquiring an additional 49,272 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Pure Cycle by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 58,612 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 3,050 shares during the last quarter. State Street Corp grew its holdings in Pure Cycle by 2.5% during the 3rd quarter. State Street Corp now owns 412,332 shares of the utilities provider’s stock worth $4,441,000 after acquiring an additional 10,124 shares during the last quarter. Barclays PLC grew its holdings in Pure Cycle by 253.9% during the 3rd quarter. Barclays PLC now owns 27,385 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 19,646 shares during the last quarter. Finally, Tealwood Asset Management Inc. bought a new stake in Pure Cycle during the 3rd quarter worth about $1,267,000. Institutional investors own 51.39% of the company’s stock.

Pure Cycle Company Profile

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.