Key Points
- CEO Frederick Mctaggart sold 1,848 shares on Nov. 17 at an average price of $35.76 for total proceeds of $66,084.48, leaving him with 287,310 shares (a 0.64% reduction) valued at $10.27M.
- Consolidated Water beat quarterly estimates with $0.34 EPS vs. $0.24 expected and $35.12M revenue vs. $32.90M expected, and the stock trades near $33.93 with a market cap around $540M and a P/E of ~35.
- Analysts have moved to a bullish stance (multiple upgrades to Buy and an average price target of about $40), and institutional investors own roughly 55% of the company, including a large stake increase by Heartland Advisors.
Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) CEO Frederick Mctaggart sold 1,848 shares of Consolidated Water stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $35.76, for a total transaction of $66,084.48. Following the sale, the chief executive officer directly owned 287,310 shares of the company's stock, valued at $10,274,205.60. This represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Consolidated Water Stock Performance
CWCO traded down $0.09 during trading on Thursday, hitting $33.93. 6,812 shares of the stock were exchanged, compared to its average volume of 117,787. Consolidated Water Co. Ltd. has a 1 year low of $22.69 and a 1 year high of $38.36. The firm has a 50 day simple moving average of $34.69 and a 200 day simple moving average of $31.25. The firm has a market cap of $540.46 million, a price-to-earnings ratio of 34.98 and a beta of 0.51.
Consolidated Water (NASDAQ:CWCO - Get Free Report) last posted its earnings results on Monday, November 10th. The utilities provider reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.10. The business had revenue of $35.12 million for the quarter, compared to the consensus estimate of $32.90 million. Consolidated Water had a net margin of 12.24% and a return on equity of 7.77%. As a group, equities analysts anticipate that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Consolidated Water
A number of large investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Consolidated Water by 228.6% during the 1st quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock worth $46,000 after buying an additional 1,294 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Consolidated Water in the 1st quarter valued at $273,000. Journey Strategic Wealth LLC lifted its stake in shares of Consolidated Water by 7.0% during the first quarter. Journey Strategic Wealth LLC now owns 9,776 shares of the utilities provider's stock worth $239,000 after purchasing an additional 638 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in Consolidated Water in the first quarter valued at approximately $244,000. Finally, Heartland Advisors Inc. increased its stake in Consolidated Water by 146.8% during the 1st quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider's stock worth $6,615,000 after buying an additional 160,657 shares during the period. Hedge funds and other institutional investors own 55.16% of the company's stock.
Analyst Ratings Changes
CWCO has been the subject of a number of research reports. Wall Street Zen raised Consolidated Water from a "hold" rating to a "buy" rating in a report on Sunday. Weiss Ratings raised shares of Consolidated Water from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Finally, Roth Capital upped their price objective on Consolidated Water from $38.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $40.00.
Read Our Latest Research Report on CWCO
Consolidated Water Company Profile
(
Get Free Report)
Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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