Nisa Investment Advisors LLC Takes $176,000 Position in Primo Brands Co. (NYSE:PRMB)

Nisa Investment Advisors LLC bought a new stake in Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,720 shares of the company’s stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rise Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter valued at about $28,000. Procyon Advisors LLC acquired a new position in Primo Brands in the 4th quarter valued at about $553,000. Fulton Bank N.A. bought a new position in Primo Brands in the 4th quarter valued at about $669,000. Finally, Green Alpha Advisors LLC acquired a new stake in Primo Brands during the fourth quarter worth approximately $835,000. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Performance

NYSE:PRMB opened at $33.19 on Friday. The company has a market cap of $12.59 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. Primo Brands Co. has a fifty-two week low of $14.10 and a fifty-two week high of $33.65. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average is $30.98.

Primo Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 annualized dividend and a yield of 1.08%. Primo Brands’s dividend payout ratio is 27.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Securities upped their target price on Primo Brands from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets initiated coverage on Primo Brands in a research report on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Primo Brands in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 price target on the stock.

Primo Brands Profile

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers.