Global Water Resources Inc (NASDAQ:GWRS) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $12.00 for the company and are forecasting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Water Resources an industry rank of 209 out of 255 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Global Water Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 28th.
In related news, Director Cindy M. Bowers sold 9,426 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.50, for a total value of $89,547.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Debra Coy bought 2,600 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was bought at an average price of $9.90 per share, with a total value of $25,740.00. The disclosure for this purchase can be found here. Corporate insiders own 45.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsinvest Investeringsforvaltning boosted its position in shares of Global Water Resources by 99.9% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 87,849 shares of the utilities provider’s stock valued at $862,000 after purchasing an additional 43,900 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Global Water Resources by 11.7% during the 4th quarter. Geode Capital Management LLC now owns 47,907 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 4,999 shares in the last quarter. Water Asset Management LLC boosted its position in shares of Global Water Resources by 3.4% during the 4th quarter. Water Asset Management LLC now owns 459,912 shares of the utilities provider’s stock valued at $4,664,000 after purchasing an additional 14,917 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Global Water Resources by 9.5% during the 4th quarter. Bank of America Corp DE now owns 35,075 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 3,050 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new position in shares of Global Water Resources during the 4th quarter valued at about $417,000. Hedge funds and other institutional investors own 29.23% of the company’s stock.
Shares of GWRS stock traded up $0.05 during trading hours on Wednesday, reaching $9.67. The stock had a trading volume of 7,825 shares, compared to its average volume of 16,442. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 4.11. Global Water Resources has a twelve month low of $8.63 and a twelve month high of $11.61. The stock has a market cap of $207.19 million, a PE ratio of 64.47, a price-to-earnings-growth ratio of 4.93 and a beta of -0.22.
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a $0.0239 dividend. The ex-dividend date is Monday, April 15th. This represents a $0.29 dividend on an annualized basis and a yield of 2.96%. Global Water Resources’s dividend payout ratio is presently 193.33%.
About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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