5 Best Water Stocks To Buy

2. Primo Water Corporation (NYSE:PRMW)

Number of Hedge Fund Holders: 30

Primo Water Corporation (NYSE:PRMW) is a Florida-based company that provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, mineral water, sparkling and flavored water, filtration equipment, and coffee. On November 10, Primo Water Corporation (NYSE:PRMW) reported a Q3 non-GAAP EPS of $0.22, in-line with market estimates. The revenue of $584.6 million climbed 6.1% year-over-year, beating Wall Street consensus by $6.07 million. 

On November 8, JPMorgan analyst Andrea Teixeira maintained an Overweight rating on Primo Water Corporation (NYSE:PRMW) but lowered the price target on the shares to $18 from $19. The analyst expects the company to report “solid” Q3 results with “resilient” demand. However, incremental currency headwinds will potentially affect sales and profitability, the analyst told investors in a research note.

According to Insider Monkey’s Q3 data, Primo Water Corporation (NYSE:PRMW) was part of 30 hedge fund portfolios, compared to 24 in the prior quarter. Kevin Oram and Peter Uddo’s Praesidium Investment Management is the leading position holder in the company, with 6.4 million shares worth $80.5 million.