Pure Cycle (NASDAQ:PCYO) Issues Quarterly Earnings Results

Pure Cycle (NASDAQ:PCYO) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $5.17 million for the quarter. Pure Cycle had a net margin of 46.62% and a return on equity of 9.79%.

Pure Cycle Stock Performance

Shares of NASDAQ:PCYO opened at $11.74 on Thursday. The stock has a market capitalization of $282.82 million, a P/E ratio of 20.96 and a beta of 1.30. Pure Cycle has a 1-year low of $9.65 and a 1-year high of $12.15. The company has a current ratio of 2.29, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $10.63 and a two-hundred day moving average price of $11.01.

Institutional Trading of Pure Cycle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Pure Cycle by 64.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,878 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 1,513 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Pure Cycle by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,984 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,521 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Pure Cycle by 143.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,634 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,552 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Pure Cycle by 8.5% in the 3rd quarter. Alliancebernstein L.P. now owns 20,320 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 1,600 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Pure Cycle by 11.1% in the 4th quarter. AQR Capital Management LLC now owns 20,007 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 2,004 shares during the last quarter. 51.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Pure Cycle in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Pure Cycle presently has an average rating of “Hold”.

About Pure Cycle

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.