Intech Investment Management LLC Takes Position in Primo Water Co. (NYSE:PRMW)

Intech Investment Management LLC purchased a new stake in shares of Primo Water Co. (NYSE:PRMW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,493 shares of the company’s stock, valued at approximately $1,073,000.

Other large investors have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp lifted its holdings in Primo Water by 2.7% in the third quarter. King Luther Capital Management Corp now owns 252,768 shares of the company’s stock worth $6,382,000 after acquiring an additional 6,584 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Primo Water by 4.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 133,132 shares of the company’s stock worth $3,362,000 after purchasing an additional 5,432 shares during the last quarter. Caldwell Investment Management Ltd. acquired a new position in Primo Water during the 3rd quarter valued at approximately $6,172,000. Natixis Advisors LLC grew its stake in Primo Water by 3.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock worth $616,000 after buying an additional 852 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Primo Water in the third quarter worth $4,220,000. 87.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRMW. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. William Blair initiated coverage on shares of Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating for the company. StockNews.com assumed coverage on Primo Water in a report on Tuesday. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Primo Water currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Price Performance

NYSE PRMW opened at $24.21 on Thursday. Primo Water Co. has a 12 month low of $14.06 and a 12 month high of $28.06. The firm has a market capitalization of $3.88 billion, a PE ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The company’s 50 day simple moving average is $25.50 and its 200 day simple moving average is $23.26. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Water Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.82 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.36%.

Primo Water 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.