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

Key Points

• Consolidated Water Co. Ltd. reached a new 52-week high of $35.26 during recent trading, with a closing price of $34.96 and a trading volume of 4,886 shares.
• The company recently reported earnings of $0.32 EPS for the quarter, exceeding analysts' estimates, and announced a quarterly dividend of $0.14 per share, scheduled for payment on October 31st.
• Analyst ratings show mixed opinions: while Roth Capital upgraded its price target to $40.00 with a "buy" rating, Wall Street Zen downgraded it from "buy" to "hold."

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $35.26 and last traded at $34.96, with a volume of 4886 shares trading hands. The stock had previously closed at $35.14.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Consolidated Water from a "buy" rating to a "hold" rating in a research note on Saturday, September 20th. Roth Capital upped their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $40.00.

Consolidated Water Stock Performance

The company has a market capitalization of $558.03 million, a PE ratio of 21.62 and a beta of 0.57. The company has a 50 day moving average price of $32.13 and a 200 day moving average price of $28.51.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its 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. The company had revenue of $33.59 million during the quarter, compared to analysts' expectations of $32.75 million. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%. On average, equities analysts forecast that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current fiscal year.

Consolidated Water Dividend Announcement

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

Insider Transactions at Consolidated Water

In related news, Director Raymond Whittaker sold 4,755 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $33.35, for a total transaction of $158,579.25. Following the transaction, the director directly owned 1,000 shares in the company, valued at $33,350. This trade represents a 82.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Consolidated Water

Several large investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in Consolidated Water during the second quarter worth $31,013,000. JPMorgan Chase & Co. lifted its stake in Consolidated Water by 18.9% during the second quarter. JPMorgan Chase & Co. now owns 637,378 shares of the utilities provider's stock worth $19,134,000 after purchasing an additional 101,434 shares during the last quarter. Geode Capital Management LLC lifted its stake in Consolidated Water by 1.1% during the second quarter. Geode Capital Management LLC now owns 433,685 shares of the utilities provider's stock worth $13,021,000 after purchasing an additional 4,711 shares during the last quarter. Invesco Ltd. lifted its stake in Consolidated Water by 27.3% during the first quarter. Invesco Ltd. now owns 306,288 shares of the utilities provider's stock worth $7,501,000 after purchasing an additional 65,744 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its stake in Consolidated Water by 146.8% during the first quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider's stock worth $6,615,000 after purchasing an additional 160,657 shares during the last quarter. 55.16% of the stock is currently owned by 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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