Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.65 and traded as high as $9.24. Global Water Resources shares last traded at $9.13, with a volume of 87,281 shares.
Analyst Ratings Changes
Several brokerages recently weighed in on GWRS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Water Resources in a report on Monday, August 17th. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Global Water Resources has an average rating of “Reduce” and an average target price of $15.00.
Read Our Latest Stock Analysis on GWRS
Global Water Resources Stock Down 0.4%
Global Water Resources (NASDAQ:GWRS – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, beating 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 company had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $14.93 million. Equities research analysts expect that Global Water Resources, Inc. will post 0.09 EPS for the current fiscal year.
Global Water Resources Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders 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 3.3%. The ex-dividend date of this dividend is Monday, August 17th. Global Water Resources’s payout ratio is 272.73%.
Insider Activity
In other news, Director Andrew M. Cohn bought 139,343 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the purchase, the director directly owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. This trade represents a 5.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Global Water Resources
Several institutional investors and hedge funds have recently modified their holdings of GWRS. TSP Capital Management Group LLC lifted its position in shares of Global Water Resources by 56.0% during the 1st quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock valued at $8,972,000 after buying an additional 424,438 shares in the last quarter. Heartland Advisors Inc. grew its stake in Global Water Resources by 52.6% during the 4th quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock valued at $5,801,000 after acquiring an additional 236,500 shares in the last quarter. North Star Investment Management Corp. raised its holdings in Global Water Resources by 36.5% in the 1st quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock valued at $3,153,000 after acquiring an additional 111,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Global Water Resources during the 4th quarter worth approximately $609,000. Finally, Bank of New York Mellon Corp purchased a new stake in Global Water Resources in the 2nd quarter valued at $253,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.
Global Water Resources Company Profile
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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