$10.86 $0.09 (0.8%)

04:00 PM EST on 11/21/19

PICO Holdings, Inc. (NASDAQ:PICO)

CAPS Rating: No stars

A diversified holding company seeks to build and operate businesses where value can be created from the development of unique assets, and to acquire businesses. The Company's objective is to maximize long-term shareholder value.

Current Price $10.86 Mkt Cap $214.2M
Open $10.73 P/E Ratio 32.46
Prev. Close $10.77 Div. (Yield) $0.00 (0.0%)
Daily Range $10.70 - $10.88 Volume 30,991
52-Wk Range $8.97 - $11.82 Avg. Daily Vol. 37,451

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All Players

251 Outperform
15 Underperform
 

All-Star Players

39 Outperform
4 Underperform
 

Wall Street

2 Outperform
0 Underperform
 

Top NASDAQ:PICO Bull/Bear Pitches

The best Bull and Bear pitches based on recency and number of recommendations.

demeye (98.63)
Submitted December 31, 2007

this is a water stock. "this company owns an astounding 134,130 acre-feet of water rights."The company actually began life in the insurance business, and used the free float from their insurance operations to buy up water rights (along with some… More

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Recent Community Commentary

Read the most recent pitches from players about PICO.

Recs

0
Member Avatar ERojo (< 20) Submitted: 10/11/2019 6:06:38 AM : Outperform Start Price: $10.07 NASDAQ:PICO Score: +3.10

Idea taken from E72
A pure investment in water
the necessity to have a little patience given the nature of the asset - water
water assets predominantly in the states of Nevada
and Arizona in the US
Debt-free company
Water in this area is measured in acre-feet (AF) being one foot of water over one acre; this is
equivalent to 325,851 gallons or 1,233,480 litres (1.233ML). Municipal rights (as opposed to
agricultural water) have a prevailing market value around US$35,000/AF,
three sets of water assets servicing the Northern Nevada (Reno)
market:
Carson Lyon, south of Reno, with the equivalent of 1767 acre-feet
Truckee Surface water rights (299AF); and
51% equity of Fish Springs Ranch (8,000 municipal AF), with a preferred interest of
~US$185million resulting from contributions to build a pipeline and accrued interest.

Recs

0
Member Avatar TMFDeej (97.78) Submitted: 10/20/2016 10:30:22 AM : Outperform Start Price: $9.23 NASDAQ:PICO Score: -27.82

Barron's wrote a bullish article on PICO holdings last month. At the time I penned (do you still call it penned when there's actually no pen or paper involved) a skeptical rebuttal to the piece here:

Is a Turnaround Really in the Works at PICO Holdings?

http://caps.fool.com/Blogs/is-a-turnaround-really-in-the/1075252

From the post...

Sounds great, but a few things bother me about PICO. One, the whole "water" investment thesis has been pretty trendy for a while, but so far it hasn't panned out. For years people have been talking about how water is such a precious resource and that companies in the sector will do tremendously well. They've even built water ETFs. Thus far the outperformance of water stocks has not materialized. Here's a chart that compares the performance of four popular water stock tracking ETFs to the S&P 500.

https://finance.yahoo.com/chart/PHO#eyJjb21wYXJpc29ucyI6I......

The underperformance is obvious. So the water is the future investment thesis thus far has been a complete bust.

Another thing that bothers me about PICO is its management. I don't trust that its management can effectively manage shareholder funds. From the Barron's article:

PICO made a poor acquisition of a canola-processing business in Minnesota that it sold last year.

Yuck, what a waste. Adding insult to injury, PICO's management is grossly overpaid relative to the performance of the company's stock. I have no problem paying up for effective management, but when a company's stock has been terrible for years management should not be rewarded (see NSAM, grrrrrr).

Terrible management was a big part of the reason why I didn't like PICO. Well, it seems as though that has changed. The activist investors who were involved with the company won and on October 12th, PICO's board of directors announced that it had fired the company's CEO John R. Hart. In a new article, Barron's believes that this is good news for shareholders and I'm inclined to agree.

This Water Rights Firm’s Stock Can Spring Higher

PICO Holdings’ long-serving CEO has left the company, which is now poised to unlock shareholder value.

http://www.barrons.com/articles/this-water-rights-firms-stock-can-spring-higher-1476961456?mod=rss_barrons_most_viewed_month

Jason
No position in PICO

Recs

0
Member Avatar MrMonopoly (< 20) Submitted: 3/15/2014 9:09:13 AM : Outperform Start Price: $18.71 NASDAQ:PICO Score: -109.17

"Developing unique assets". Does that sound more dignified than "developing resource monopolies"? Brilliant plan, to sell 1 million acres but not the water rights people need to survive there.

Leaderboard

Find the members with the highest scoring picks in PICO.

Score Leader

TMEBenBenBen

TMEBenBenBen (< 20) Score: +349.04

The Score Leader is the player with the highest score across all their picks in PICO.

Top
Pick
Member Name Member
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
Index
Gain
Score Commentary
TMEBenBenBen < 20 3/16/2009 Underperform NS $17.70 -38.65% +310.39% +349.04 0 Comment
Tuusa 98.59 1/16/2009 Underperform 3M $18.59 -41.57% +276.85% +318.42 1 Comment
upbatter 66.73 10/15/2008 Underperform 5Y $20.96 -48.19% +238.80% +286.99 0 Comment
1203cc < 20 7/14/2008 Underperform 1Y $31.85 -65.90% +155.39% +221.28 1 Comment
ManicTrader 21.58 3/23/2007 Underperform 3W $32.56 -66.65% +128.99% +195.64 0 Comment
brogers146 70.36 11/25/2011 6/24/2014 Underperform 5Y $14.53 -25.24% +166.66% +191.90 0 Comment
MrClower 69.80 4/8/2008 Underperform 3M $24.68 -56.00% +135.70% +191.69 2 Comments
parmens 74.41 5/13/2008 Underperform 1Y $26.48 -58.99% +129.44% +188.44 0 Comment
skiprof < 20 4/7/2008 Underperform 1Y $23.06 -52.90% +133.36% +186.27 0 Comment
tallenuk 23.79 5/23/2012 Underperform 1Y $15.40 -29.49% +136.45% +165.94 0 Comment

Wall Street

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