Consolidated Water (NASDAQ:CWCO) Hits New 52-Week High - Here's What Happened

Key Points

• Consolidated Water reached a new 52-week high of $34.59 during trading, with a recent closing price of $34.52 and a trading volume of 76,067 shares.
• Roth Capital raised its target price for the stock from $38.00 to $40.00, reflecting a "buy" rating, while Wall Street Zen downgraded it to a "hold." The consensus rating remains "Buy."
• The company also declared a quarterly dividend of $0.14 per share, with an annual yield of 1.6%, to be paid on October 31st.

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.59 and last traded at $34.52, with a volume of 76067 shares trading hands. The stock had previously closed at $33.92.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Roth Capital lifted their target price on Consolidated Water from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen cut Consolidated Water from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $40.00.

Consolidated Water Price Performance

The business has a 50-day simple moving average of $31.70 and a two-hundred day simple moving average of $28.32. The stock has a market cap of $549.90 million, a price-to-earnings ratio of 21.31 and a beta of 0.57.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.12. The firm had revenue of $33.59 million for the quarter, compared to the consensus estimate of $32.75 million. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%. As a group, equities analysts anticipate that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current fiscal year.

Consolidated Water Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, October 1st. Consolidated Water's payout ratio is 34.57%.

Insider Activity at Consolidated Water

In other news, Director Raymond Whittaker sold 4,755 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $33.35, for a total value of $158,579.25. Following the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $33,350. This represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.25% of the company's stock.

Hedge Funds Weigh In On Consolidated Water

Several institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. grew its position in shares of Consolidated Water by 9.5% in the second quarter. Osaic Holdings Inc. now owns 8,650 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 752 shares during the last quarter. MRP Capital Investments LLC grew its position in shares of Consolidated Water by 6.2% in the second quarter. MRP Capital Investments LLC now owns 16,225 shares of the utilities provider's stock valued at $487,000 after purchasing an additional 950 shares during the last quarter. State of Wyoming grew its position in shares of Consolidated Water by 6.0% in the second quarter. State of Wyoming now owns 11,243 shares of the utilities provider's stock valued at $338,000 after purchasing an additional 632 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Consolidated Water by 3,776.7% in the second quarter. Lazard Asset Management LLC now owns 13,801 shares of the utilities provider's stock valued at $414,000 after purchasing an additional 13,445 shares during the last quarter. Institutional investors and hedge funds own 55.16% of the company's stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.

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