Empire Life Investments Inc. Lowers Stock Holdings in EVI Industries, Inc. (NYSEAMERICAN:EVI)

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. lowered its holdings in shares of 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 & Exchange Commission. The firm owned 186,453 shares of the industrial products company's stock after selling 35,313 shares during the quarter. Empire Life Investments Inc. owned 1.46% of EVI Industries worth $3,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EVI. Raymond James Financial Inc. purchased a new position in EVI Industries in the 4th quarter worth approximately $2,863,000. Royce & Associates LP boosted its stake in shares of EVI Industries by 7.8% during the 1st quarter. Royce & Associates LP now owns 706,635 shares of the industrial products company's stock worth $11,857,000 after acquiring an additional 50,894 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in EVI Industries by 2.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 811,660 shares of the industrial products company's stock valued at $13,620,000 after acquiring an additional 23,044 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in EVI Industries during the first quarter worth approximately $268,000. Finally, Bailard Inc. acquired a new stake in shares of EVI Industries during the 1st quarter worth $196,000. Hedge funds and other institutional investors own 37.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EVI shares. Wall Street Zen raised EVI Industries from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. DA Davidson assumed coverage on EVI Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $28.00 price objective for the company.

EVI Industries Price Performance

Shares of EVI Industries stock traded up $0.11 during trading hours on Thursday, hitting $23.42. 5,032 shares of the company's stock traded hands, compared to its average volume of 16,320. EVI Industries, Inc. has a 12-month low of $14.51 and a 12-month high of $27.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.86. The stock has a market capitalization of $298.84 million, a PE ratio of 47.81 and a beta of -0.02. The stock's fifty day moving average is $21.81.

EVI Industries Company Profile

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.