Schwab Charles Investment Management Inc. lifted its position in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,500 shares of the utilities provider’s stock after purchasing an additional 9,587 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Consolidated Water were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of Consolidated Water during the fourth quarter worth approximately $9,355,000. Two Sigma Advisers LP increased its stake in shares of Consolidated Water by 36.7% during the fourth quarter. Two Sigma Advisers LP now owns 41,100 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 11,025 shares during the period. BlackRock Inc. increased its stake in shares of Consolidated Water by 2.1% during the fourth quarter. BlackRock Inc. now owns 677,496 shares of the utilities provider’s stock worth $8,536,000 after purchasing an additional 14,183 shares during the period. Fairpointe Capital LLC bought a new position in shares of Consolidated Water during the fourth quarter worth approximately $822,000. Finally, Martingale Asset Management L P increased its stake in shares of Consolidated Water by 34.4% during the fourth quarter. Martingale Asset Management L P now owns 16,002 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 4,100 shares during the period. Institutional investors own 54.83% of the company’s stock.
A number of brokerages have recently weighed in on CWCO. Roth Capital set a $17.00 target price on Consolidated Water and gave the stock a “buy” rating in a research note on Friday, March 23rd. ValuEngine lowered Consolidated Water from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Finally, Zacks Investment Research upgraded Consolidated Water from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd.
Shares of NASDAQ CWCO opened at $12.80 on Friday. The company has a market cap of $192.23 million, a PE ratio of 22.54, a PEG ratio of 2.47 and a beta of 0.62. Consolidated Water Co. Ltd. has a 1-year low of $11.20 and a 1-year high of $15.35.
Consolidated Water (NASDAQ:CWCO) last issued its quarterly earnings results on Friday, May 11th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $17.30 million. Consolidated Water had a return on equity of 5.46% and a net margin of 9.05%. research analysts expect that Consolidated Water Co. Ltd. will post 0.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Monday, July 2nd will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 29th. Consolidated Water’s dividend payout ratio is currently 69.39%.
Consolidated Water Company Profile
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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