Primo Water Co. (NYSE:PRMW) Holdings Increased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in Primo Water Co. (NYSE:PRMW) by 43.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,381,240 shares of the company’s stock after purchasing an additional 419,370 shares during the quarter. Primo Water accounts for 1.2% of Intact Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Intact Investment Management Inc.’s holdings in Primo Water were worth $34,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Wealth Management LLC bought a new stake in shares of Primo Water in the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Primo Water in the third quarter worth approximately $48,000. Finally, Crewe Advisors LLC purchased a new position in shares of Primo Water in the first quarter worth approximately $66,000. 87.71% of the stock is currently owned by institutional investors.

Primo Water Stock Performance

Shares of PRMW opened at $26.53 on Monday. The company’s 50 day moving average price is $25.01 and its 200 day moving average price is $22.64. Primo Water Co. has a 52 week low of $13.57 and a 52 week high of $28.06. The company has a market capitalization of $4.25 billion, a PE ratio of 16.79, a PEG ratio of 1.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts expect that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is presently 22.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRMW shares. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. William Blair started coverage on shares of Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating on the stock. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Finally, Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.