Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in Pure Cycle Corporation $PCYO

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Pure Cycle Corporation (NASDAQ:PCYO) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 81,399 shares of the utilities provider’s stock, valued at approximately $872,000.

A number of other hedge funds have also made changes to their positions in PCYO. Epiq Partners LLC raised its position in shares of Pure Cycle by 0.6% during the 2nd quarter. Epiq Partners LLC now owns 258,962 shares of the utilities provider’s stock worth $2,773,000 after acquiring an additional 1,445 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Pure Cycle by 64.0% in the third quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 1,513 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Pure Cycle by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 1,521 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Pure Cycle by 143.4% during the third quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Pure Cycle by 8.5% during the 3rd quarter. Alliancebernstein L.P. now owns 20,320 shares of the utilities provider’s stock worth $225,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 51.39% of the company’s stock.

Pure Cycle Stock Up 0.1%

Pure Cycle stock opened at $11.27 on Tuesday. The company has a market capitalization of $271.61 million, a P/E ratio of 18.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.13 and a current ratio of 1.53. Pure Cycle Corporation has a fifty-two week low of $9.70 and a fifty-two week high of $12.44. The stock has a 50-day simple moving average of $10.84 and a 200-day simple moving average of $10.79.

Pure Cycle (NASDAQ:PCYO) last released its quarterly earnings results on Wednesday, July 8th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $8.22 million for the quarter. Pure Cycle had a return on equity of 9.98% and a net margin of 43.66%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Pure Cycle from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Pure Cycle presently has an average rating of “Hold”.

Pure Cycle Profile

Pure Cycle Corporation (NASDAQ:PCYO) is a Colorado-based utility and real estate development company focused on water resource management and land development along the Front Range. The company’s core operations involve the acquisition, treatment and distribution of potable water, as well as the collection and treatment of wastewater, serving suburban and rural communities in the Denver metropolitan area. Pure Cycle holds substantial water rights and operates distribution and treatment facilities under a regulated utility model, providing essential services to residential and commercial customers.

In addition to its water utility business, Pure Cycle engages in real estate development, leveraging its water assets to create fully serviced residential communities.