EVI Industries, Inc. (NYSEAMERICAN:EVI) Shares Sold by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. reduced its holdings in EVI Industries by 15.9%, now owning approximately 1.46% of the company with a total value of $3,129,000 after selling 35,313 shares.
• Other hedge funds also modified their positions, including Royce & Associates LP, which increased its stake by 7.8%, now owning shares worth $11,857,000.
• Wall Street analysts have recently upgraded EVI Industries, with Wall Street Zen raising its rating from "hold" to "buy" and DA Davidson setting a price target of $28.00.

Empire Life Investments Inc. lessened its stake in EVI Industries, Inc. (NYSEAMERICAN:EVI - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,453 shares of the industrial products company's stock after selling 35,313 shares during the period. Empire Life Investments Inc. owned approximately 1.46% of EVI Industries worth $3,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC lifted its position in EVI Industries by 2.9% in the first quarter. Conestoga Capital Advisors LLC now owns 811,660 shares of the industrial products company's stock valued at $13,620,000 after purchasing an additional 23,044 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of EVI Industries by 7.8% during the first quarter. Royce & Associates LP now owns 706,635 shares of the industrial products company's stock worth $11,857,000 after purchasing an additional 50,894 shares during the period. Raymond James Financial Inc. bought a new stake in shares of EVI Industries in the fourth quarter worth about $2,863,000. Captrust Financial Advisors raised its position in EVI Industries by 4.0% during the 4th quarter. Captrust Financial Advisors now owns 144,514 shares of the industrial products company's stock valued at $2,363,000 after purchasing an additional 5,529 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of EVI Industries by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 113,880 shares of the industrial products company's stock worth $1,862,000 after buying an additional 892 shares during the last quarter. Institutional investors own 37.30% of the company's stock.

Wall Street Analysts Forecast Growth

EVI has been the subject of a number of recent research reports. Wall Street Zen raised shares of EVI Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. DA Davidson started coverage on EVI Industries in a report on Friday, June 6th. They set a "buy" rating and a $28.00 price target for the company.

EVI Industries Stock Performance

EVI stock traded up $0.19 during trading on Tuesday, reaching $23.49. The company had a trading volume of 11,009 shares, compared to its average volume of 10,224. The business has a 50-day simple moving average of $21.60. The firm has a market cap of $299.73 million, a P/E ratio of 47.94 and a beta of -0.02. EVI Industries, Inc. has a twelve month low of $14.51 and a twelve month high of $27.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 1.51.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.