Intact Investment Management Inc. Acquires 419,370 Shares of Primo Water Co. (NYSE:PRMW)

Intact Investment Management Inc. raised its holdings in Primo Water Co. (NYSE:PRMW - Free Report) by 43.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,381,240 shares of the company's stock after buying an additional 419,370 shares during the period. Primo Water accounts for about 1.2% of Intact Investment Management Inc.'s portfolio, making the stock its 23rd largest holding. Intact Investment Management Inc. owned about 0.86% of Primo Water worth $34,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRMW. Allspring Global Investments Holdings LLC lifted its stake in Primo Water by 0.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company's stock valued at $96,647,000 after acquiring an additional 32,875 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Primo Water by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company's stock worth $34,868,000 after buying an additional 49,500 shares in the last quarter. TD Asset Management Inc boosted its holdings in Primo Water by 27.3% in the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company's stock valued at $30,623,000 after purchasing an additional 300,929 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Primo Water by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company's stock valued at $29,788,000 after buying an additional 53,241 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company's stock worth $11,287,000 after purchasing an additional 390,611 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. StockNews.com cut Primo Water from a "buy" rating to a "hold" rating in a report on Sunday, October 13th. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They set an "outperform" rating on the stock. Finally, Raymond James cut Primo Water from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.83.

Primo Water Stock Down 1.1 %

Shares of PRMW traded down $0.29 on Monday, reaching $26.24. The company's stock had a trading volume of 1,182,513 shares, compared to its average volume of 1,231,720. The stock has a market capitalization of $4.21 billion, a PE ratio of 16.63, a PEG ratio of 1.93 and a beta of 1.10. Primo Water Co. has a twelve month low of $14.06 and a twelve month high of $28.06. The firm has a fifty day moving average of $25.01 and a 200-day moving average of $22.64. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Water (NYSE:PRMW - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share 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 analysts' expectations of $477.40 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The company 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 is presently 22.78%.

About Primo Water

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.