Goldman Sachs Group Inc. Buys 37,018 Shares of Pure Cycle Corporation $PCYO

Key Points

• Goldman Sachs Group Inc. increased its stake in Pure Cycle Corporation by 39.0% in Q1, now holding approximately 131,836 shares worth $1.38 million.
• Other hedge funds have also made significant investments in Pure Cycle, with increases from BNP Paribas and Bank of America among notable activities.
• Pure Cycle's stock opened at $11.39 and has shown strong performance with a net margin of 49.58% and a P/E ratio of 20.71.

Goldman Sachs Group Inc. boosted its stake in shares of Pure Cycle Corporation (NASDAQ:PCYO - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,836 shares of the utilities provider's stock after purchasing an additional 37,018 shares during the quarter. Goldman Sachs Group Inc. owned 0.55% of Pure Cycle worth $1,380,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. First Manhattan CO. LLC. raised its stake in Pure Cycle by 2.7% during the 1st quarter. First Manhattan CO. LLC. now owns 60,225 shares of the utilities provider's stock valued at $631,000 after purchasing an additional 1,600 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Pure Cycle by 5.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 67,219 shares of the utilities provider's stock valued at $704,000 after purchasing an additional 3,333 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Pure Cycle by 87.0% during the 4th quarter. BNP Paribas Financial Markets now owns 8,832 shares of the utilities provider's stock valued at $112,000 after purchasing an additional 4,110 shares during the last quarter. Bank of America Corp DE raised its stake in Pure Cycle by 42.4% during the 4th quarter. Bank of America Corp DE now owns 25,511 shares of the utilities provider's stock valued at $323,000 after purchasing an additional 7,593 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Pure Cycle during the 4th quarter valued at $126,000. 51.39% of the stock is currently owned by institutional investors and hedge funds.

Pure Cycle Price Performance

Shares of PCYO traded down $0.15 during trading hours on Tuesday, hitting $11.19. The stock had a trading volume of 7,443 shares, compared to its average volume of 47,334. The company's fifty day moving average is $10.34 and its two-hundred day moving average is $10.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 2.40. Pure Cycle Corporation has a 52 week low of $9.65 and a 52 week high of $14.63. The stock has a market capitalization of $269.34 million, a price-to-earnings ratio of 20.35 and a beta of 1.33.

Pure Cycle (NASDAQ:PCYO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 9th. The utilities provider reported $0.09 EPS for the quarter. Pure Cycle had a net margin of 49.58% and a return on equity of 10.19%. The firm had revenue of $5.14 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Pure Cycle from a "sell" rating to a "hold" rating in a report on Saturday, September 13th.

Pure Cycle Profile

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.