Consolidated Water (NASDAQ:CWCO) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Consolidated Water shares have surpassed their 200-day moving average of $28.08, reaching a high of $33.64 during trading.
• Wall Street analysts have upgraded Consolidated Water's stock rating from "hold" to "buy," with a consensus price target of $40.00.
• The company announced a quarterly $0.14 dividend to be paid on October 31st, representing a yield of 1.7% and a payout ratio of 34.57%.

Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.08 and traded as high as $33.64. Consolidated Water shares last traded at $33.63, with a volume of 66,141 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CWCO shares. Wall Street Zen raised shares of Consolidated Water from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Roth Capital boosted their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $40.00.

Consolidated Water Trading Up 1.3%

The business's 50 day moving average is $31.33 and its two-hundred day moving average is $28.08. The company has a market cap of $535.73 million, a PE ratio of 20.76 and a beta of 0.57.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its earnings results on Monday, August 11th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $32.75 million. As a group, equities research analysts predict that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.56 annualized dividend and a yield of 1.7%. Consolidated Water's payout ratio is presently 34.57%.

Insider Buying and Selling

In other Consolidated Water news, Director Raymond Whittaker sold 4,755 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $33.35, for a total value of $158,579.25. Following the sale, the director owned 1,000 shares in the company, valued at $33,350. The trade was a 82.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.25% of the stock is currently owned by insiders.

Institutional Trading of Consolidated Water

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its position in shares of Consolidated Water by 0.3% during the 2nd quarter. New York State Common Retirement Fund now owns 142,263 shares of the utilities provider's stock valued at $4,271,000 after buying an additional 380 shares in the last quarter. Martingale Asset Management L P grew its holdings in Consolidated Water by 1.7% during the 1st quarter. Martingale Asset Management L P now owns 25,798 shares of the utilities provider's stock valued at $632,000 after purchasing an additional 440 shares during the last quarter. Copeland Capital Management LLC grew its holdings in Consolidated Water by 16.3% during the 2nd quarter. Copeland Capital Management LLC now owns 3,232 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 454 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Consolidated Water by 35.9% during the 2nd quarter. Byrne Asset Management LLC now owns 2,254 shares of the utilities provider's stock valued at $68,000 after purchasing an additional 595 shares during the last quarter. Finally, State of Wyoming grew its holdings in Consolidated Water by 6.0% during the 2nd 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. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.