Vanguard Group Inc Buys 483068 Shares of Profire Energy, Inc. (PFIE)

Vanguard Group Inc increased its holdings in Profire Energy, Inc. (NASDAQ:PFIE) by 44.5% in the 3rd quarter, according to the company in its most …

Profire Energy logoVanguard Group Inc increased its holdings in Profire Energy, Inc. (NASDAQ:PFIE) by 44.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,569,824 shares of the oil and gas company’s stock after acquiring an additional 483,068 shares during the period. Vanguard Group Inc owned about 3.27% of Profire Energy worth $5,007,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PFIE. Bank of Montreal Can grew its holdings in shares of Profire Energy by 24,392.3% in the third quarter. Bank of Montreal Can now owns 41,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 40,979 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in Profire Energy in the second quarter valued at approximately $149,000. JPMorgan Chase & Co. lifted its stake in Profire Energy by 874.0% in the third quarter. JPMorgan Chase & Co. now owns 46,783 shares of the oil and gas company’s stock valued at $150,000 after purchasing an additional 41,980 shares during the last quarter. Private Advisor Group LLC lifted its stake in Profire Energy by 331.7% in the third quarter. Private Advisor Group LLC now owns 51,800 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 39,800 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Profire Energy by 238.7% in the second quarter. Bank of New York Mellon Corp now owns 62,863 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 44,303 shares during the last quarter. 44.39% of the stock is owned by institutional investors.

Profire Energy stock traded up $0.01 during trading on Tuesday, hitting $1.70. The stock had a trading volume of 38,878 shares, compared to its average volume of 259,650. Profire Energy, Inc. has a 1 year low of $1.36 and a 1 year high of $5.30. The company has a market cap of $78.85 million, a price-to-earnings ratio of 18.89 and a beta of 2.06.

Several research firms recently commented on PFIE. ValuEngine downgraded Profire Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded Profire Energy from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a research note on Thursday, November 15th. Finally, Maxim Group reiterated a “buy” rating and issued a $5.00 price objective on shares of Profire Energy in a research note on Friday, November 9th.

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Profire Energy Profile

Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.

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Institutional Ownership by Quarter for Profire Energy (NASDAQ:PFIE)

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