Key Points
- Director Andrew Cohn purchased 139,343 shares of Global Water Resources at an average price of $8.85, investing approximately $1.23 million and increasing his ownership by 5.44% to 2.70 million shares.
- Global Water Resources reported quarterly EPS of $0.04, exceeding the $0.03 consensus estimate, while revenue of $17.77 million also surpassed expectations. The company declared a monthly dividend of $0.0253 per share, representing a 3.4% annualized yield.
- The stock opened at $8.88, with analysts maintaining a generally cautious outlook: one rated it Hold and another Sell, producing a consensus “Reduce” rating despite a $15 average price target.
Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) Director Andrew Cohn bought 139,343 shares of Global Water Resources stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the purchase, the director directly owned 2,701,350 shares in the company, valued at $23,906,947.50. The trade was a 5.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Global Water Resources Stock Up 0.1%
Global Water Resources stock opened at $8.88 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. The business's 50-day simple moving average is $7.41 and its two-hundred day simple moving average is $7.64. The company has a market cap of $255.74 million, a PE ratio of 80.73 and a beta of 0.91. Global Water Resources, Inc. has a fifty-two week low of $6.55 and a fifty-two week high of $11.17.
Global Water Resources (NASDAQ:GWRS - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%.The firm had revenue of $17.77 million during the quarter, compared to analysts' expectations of $14.93 million. Equities analysts anticipate that Global Water Resources, Inc. will post 0.09 EPS for the current year.
Global Water Resources Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.0253 per share. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Global Water Resources's dividend payout ratio (DPR) is 272.73%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on GWRS shares. Wall Street Zen raised shares of Global Water Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings restated a "sell (d+)" rating on shares of Global Water Resources in a research note on Monday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Global Water Resources has a consensus rating of "Reduce" and an average target price of $15.00.
Check Out Our Latest Stock Report on GWRS
Hedge Funds Weigh In On Global Water Resources
Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Global Water Resources by 75,025.0% in the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 3,001 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Global Water Resources by 258.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Global Water Resources by 120.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider's stock worth $49,000 after purchasing an additional 2,601 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new position in Global Water Resources during the fourth quarter worth approximately $84,000. 27.91% of the stock is owned by hedge funds and other institutional investors.
About Global Water Resources
(
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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