Wesbanco Bank Inc. Has $634,000 Stock Holdings in Global Water Resources, Inc. (NASDAQ:GWRS)

Wesbanco Bank Inc. lifted its position in Global Water Resources, Inc. (NASDAQ:GWRS) by 98.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,500 shares of the utilities provider’s stock after acquiring an additional 30,500 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.23% of Global Water Resources worth $634,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Global Water Resources by 110.3% in the 4th quarter. JPMorgan Chase & Co. now owns 44,067 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 23,113 shares in the last quarter. Perritt Capital Management Inc grew its position in Global Water Resources by 105.9% in the 4th quarter. Perritt Capital Management Inc now owns 35,000 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 18,000 shares in the last quarter. Deutsche Bank AG grew its position in Global Water Resources by 4,273.8% in the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 14,659 shares in the last quarter. Millennium Management LLC grew its position in Global Water Resources by 87.8% in the 4th quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 12,654 shares in the last quarter. Finally, Gitterman Wealth Management LLC bought a new position in shares of Global Water Resources during the 4th quarter valued at approximately $123,000. Institutional investors own 27.91% of the company’s stock.

Global Water Resources Stock Performance

Shares of GWRS stock opened at $10.80 on Wednesday. The stock has a market capitalization of $296.47 million, a P/E ratio of 40.00, a PEG ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. The firm’s 50 day moving average is $10.25 and its 200 day moving average is $11.14. Global Water Resources, Inc. has a 12 month low of $9.37 and a 12 month high of $13.98.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $12.46 million for the quarter, compared to analysts’ expectations of $12.00 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. On average, sell-side analysts anticipate that Global Water Resources, Inc. will post 0.28 earnings per share for the current year.

Global Water Resources Announces Dividend

The firm also recently announced a jun 25 dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.0253 per share. This represents a dividend yield of 3%. The ex-dividend date is Monday, June 16th. Global Water Resources’s dividend payout ratio is currently 130.43%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Director Andrew M. Cohn bought 252,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was purchased at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the transaction, the director now owns 2,379,899 shares in the company, valued at approximately $23,798,990. This trade represents a 11.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 54.30% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.