Consolidated Water (NASDAQ:CWCO) Reaches New 52-Week High - Here's Why

Key Points

• Consolidated Water shares reached a new 52-week high of $35.75, with a trading volume of 9,600 shares and a recent price of $35.64.
• Research analysts have raised their ratings for Consolidated Water, with a consensus rating of "Buy" and a target price of $40.00.
• The company reported a quarterly EPS of $0.32 which exceeded analyst expectations and declared a quarterly dividend of $0.14 per share.

Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $35.75 and last traded at $35.64, with a volume of 9600 shares. The stock had previously closed at $35.00.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CWCO shares. Weiss Ratings raised shares of Consolidated Water from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Consolidated Water from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Roth Capital boosted their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $40.00.

Consolidated Water Stock Up 2.5%

The stock has a market cap of $571.30 million, a price-to-earnings ratio of 22.14 and a beta of 0.53. The stock's 50 day moving average price is $33.22 and its two-hundred day moving average price is $29.14.

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

Consolidated Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. Consolidated Water's dividend payout ratio (DPR) is 34.57%.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 4,755 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $33.35, for a total value of $158,579.25. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at approximately $33,350. This trade represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.25% of the company's stock.

Hedge Funds Weigh In On Consolidated Water

A number of institutional investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Consolidated Water during the second quarter worth about $31,013,000. JPMorgan Chase & Co. grew its holdings in shares of Consolidated Water by 18.9% in the second quarter. JPMorgan Chase & Co. now owns 637,378 shares of the utilities provider's stock valued at $19,134,000 after purchasing an additional 101,434 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Consolidated Water by 1.1% in the second quarter. Geode Capital Management LLC now owns 433,685 shares of the utilities provider's stock valued at $13,021,000 after purchasing an additional 4,711 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Consolidated Water by 27.3% in the first quarter. Invesco Ltd. now owns 306,288 shares of the utilities provider's stock valued at $7,501,000 after purchasing an additional 65,744 shares in the last quarter. Finally, Heartland Advisors Inc. grew its holdings in shares of Consolidated Water by 146.8% in the first quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider's stock valued at $6,615,000 after purchasing an additional 160,657 shares in the last quarter. 55.16% of the stock is owned by hedge funds and other institutional investors.

About Consolidated Water

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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