Key Points
- Director Andrew Cohn purchased 18,305 shares on March 13 at an average price of $7.20, boosting his holdings to 2,560,984 shares (a 0.72% increase) valued at about $18.44M, as disclosed in an SEC filing.
- Global Water Resources announced a monthly dividend of $0.0253 payable March 31 (ex-dividend and record date March 17), implying a roughly 4.1% yield while the dividend payout ratio sits at 300%.
- The company missed quarterly expectations with EPS of -$0.01 versus $0.04 expected, trades near its 52-week low (~$7.12) with a market cap of $211.7M, and carries an average analyst rating of "Reduce" with a $15 consensus target.
Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) Director Andrew Cohn acquired 18,305 shares of the company's stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $7.20 per share, with a total value of $131,796.00. Following the acquisition, the director directly owned 2,560,984 shares of the company's stock, valued at approximately $18,439,084.80. This represents a 0.72% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Global Water Resources Price Performance
Global Water Resources stock opened at $7.36 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.54. Global Water Resources, Inc. has a 52-week low of $7.12 and a 52-week high of $11.39. The firm has a market cap of $211.67 million, a PE ratio of 73.61 and a beta of 0.96. The company's 50 day moving average is $8.67 and its two-hundred day moving average is $9.21.
Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The business had revenue of $13.54 million during the quarter, compared to analyst estimates of $13.73 million. On average, research analysts expect that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.
Global Water Resources Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.0253 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a yield of 4.1%. Global Water Resources's dividend payout ratio (DPR) is 300.00%.
Institutional Trading of Global Water Resources
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Global Water Resources by 6.7% in the 3rd quarter. CWM LLC now owns 14,918 shares of the utilities provider's stock valued at $154,000 after buying an additional 932 shares in the last quarter. Redmond Asset Management LLC raised its stake in Global Water Resources by 0.5% during the 3rd quarter. Redmond Asset Management LLC now owns 330,272 shares of the utilities provider's stock worth $3,402,000 after acquiring an additional 1,685 shares in the last quarter. Barclays PLC lifted its position in Global Water Resources by 4.1% in the fourth quarter. Barclays PLC now owns 45,186 shares of the utilities provider's stock valued at $382,000 after acquiring an additional 1,784 shares during the last quarter. Rhumbline Advisers lifted its position in Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after acquiring an additional 1,884 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Global Water Resources by 16.5% in the 3rd quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider's stock valued at $138,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GWRS shares. Weiss Ratings lowered Global Water Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, February 20th. Roth Mkm set a $15.00 target price on shares of Global Water Resources in a research note on Monday, November 17th. Finally, Freedom Capital downgraded shares of Global Water Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Global Water Resources presently has an average rating of "Reduce" and a consensus price target of $15.00.
Check Out Our Latest Stock Analysis on Global Water Resources
Global Water Resources Company Profile
(
Get Free Report)
Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.
The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.
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