StockNews.com Downgrades Pure Cycle (NASDAQ:PCYO) to Hold

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

Pure Cycle Price Performance

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 company has a market cap of $278.55 million, a P/E ratio of 24.10 and a beta of 1.03. The company’s fifty day moving average is $12.98 and its two-hundred day moving average is $11.26. 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 issued its quarterly earnings data on Wednesday, January 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter. Pure Cycle had a return on equity of 9.41% and a net margin of 40.40%.

Insider Buying and Selling

In related news, Director Daniel R. Kozlowski sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.10, for a total transaction of $262,000.00. Following the sale, the director now owns 2,668,778 shares of the company’s stock, valued at $34,960,991.80. This 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 the SEC website. 17.20% of the stock is owned by insiders.

Institutional Trading of Pure Cycle

A number of institutional investors have recently modified their holdings of the stock. Tealwood Asset Management Inc. acquired a new stake in shares of Pure Cycle during the 3rd quarter worth approximately $1,267,000. Geode Capital Management LLC boosted its holdings in shares of Pure Cycle by 10.7% in the 3rd 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 in the last quarter. Barclays PLC increased its stake in shares of Pure Cycle by 253.9% in the 3rd quarter. Barclays PLC now owns 27,385 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 19,646 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Pure Cycle by 20.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,311 shares of the utilities provider’s stock valued at $901,000 after purchasing an additional 15,759 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of 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 buying an additional 10,124 shares in the last quarter. 51.39% of the stock is currently owned by 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 930-acre master-planned community; oil and gas leasing business; and construction and leasing of single-family homes.