Pure Cycle (NASDAQ:PCYO) Downgraded by StockNews.com 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 Stock Down 3.4 %

PCYO stock traded down $0.41 during mid-day trading on Friday, hitting $11.57. 100,529 shares of the company were exchanged, compared to its average volume of 56,204. The firm has a market cap of $278.55 million, a P/E ratio of 24.10 and a beta of 1.03. Pure Cycle has a 1-year low of $8.94 and a 1-year high of $14.63. The firm’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 (NASDAQ:PCYO) last issued its quarterly earnings results 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 Pure Cycle stock in a transaction 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 completion of the sale, the director now owns 2,668,778 shares of the company’s stock, valued at approximately $34,960,991.80. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Pure Cycle

Hedge funds and other institutional investors have recently modified their holdings of the company. Tealwood Asset Management Inc. acquired a new position in Pure Cycle in the third quarter valued at about $1,267,000. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 49,272 shares during the last quarter. Barclays PLC boosted its holdings in Pure Cycle by 253.9% in the third quarter. Barclays PLC now owns 27,385 shares of the utilities provider’s stock valued at $295,000 after acquiring an additional 19,646 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Pure Cycle by 20.1% in the second quarter. Bank of New York Mellon Corp now owns 94,311 shares of the utilities provider’s stock valued at $901,000 after acquiring an additional 15,759 shares during the last quarter. Finally, State Street Corp boosted its holdings in Pure Cycle by 2.5% in the third quarter. State Street Corp now owns 412,332 shares of the utilities provider’s stock valued at $4,441,000 after acquiring an additional 10,124 shares during the last quarter. Institutional investors and hedge funds 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.