Wells Fargo & Company MN lessened its position in Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 19.6% in the third quarter, HoldingsChannel reports. The firm owned 22,480 shares of the utilities provider’s stock after selling 5,483 shares during the quarter. Wells Fargo & Company MN’s holdings in Consolidated Water were worth $288,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Consolidated Water by 21.0% in the 2nd quarter. Royal Bank of Canada now owns 8,382 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 1,452 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Consolidated Water in the 2nd quarter worth about $135,000. Essex Financial Services Inc. grew its position in shares of Consolidated Water by 186.7% in the 3rd quarter. Essex Financial Services Inc. now owns 14,159 shares of the utilities provider’s stock valued at $181,000 after buying an additional 9,221 shares during the last quarter. Rhumbline Advisers grew its position in shares of Consolidated Water by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock valued at $206,000 after buying an additional 660 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Consolidated Water by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 29,865 shares of the utilities provider’s stock valued at $371,000 after buying an additional 1,242 shares during the last quarter. 49.49% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on CWCO. Zacks Investment Research lowered Consolidated Water from a “hold” rating to a “sell” rating in a research report on Monday. TheStreet upgraded Consolidated Water from a “c+” rating to a “b-” rating in a research report on Friday, November 24th. Finally, Roth Capital set a $15.00 price target on Consolidated Water and gave the company a “buy” rating in a research report on Monday, November 13th.
Shares of Consolidated Water Co. Ltd. (CWCO) opened at $12.20 on Tuesday. Consolidated Water Co. Ltd. has a 52-week low of $10.05 and a 52-week high of $13.95. The company has a market capitalization of $190.00, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.75.
Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings results on Thursday, November 9th. The utilities provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Consolidated Water had a net margin of 9.72% and a return on equity of 5.28%. The company had revenue of $16.57 million during the quarter, compared to the consensus estimate of $15.00 million. equities analysts expect that Consolidated Water Co. Ltd. will post 0.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd were given a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, January 2nd. This is a positive change from Consolidated Water’s previous quarterly dividend of $0.08. Consolidated Water’s payout ratio is 82.93%.
Consolidated Water Profile
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
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