Consolidated Water (NASDAQ:CWCO) Stock Price Passes 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%.

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report)'s stock price 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 traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CWCO shares. Roth Capital increased their target price on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Wall Street Zen cut Consolidated Water from a "buy" rating to a "hold" rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $40.00.

Consolidated Water Trading Down 1.7%

The stock has a 50-day simple moving average of $31.63 and a 200 day simple moving average of $28.26. The company has a market cap of $540.35 million, a price-to-earnings ratio of 20.94 and a beta of 0.58.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.12. The business 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%. As a group, research analysts forecast that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.7%. Consolidated Water's dividend payout ratio is 34.57%.

Insider Activity

In related 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 directly owned 1,000 shares in the company, valued at approximately $33,350. This represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Consolidated Water by 9.5% during the second quarter. Osaic Holdings Inc. now owns 8,650 shares of the utilities provider's stock worth $260,000 after purchasing an additional 752 shares in the last quarter. MRP Capital Investments LLC lifted its stake in Consolidated Water by 6.2% during the second quarter. MRP Capital Investments LLC now owns 16,225 shares of the utilities provider's stock worth $487,000 after purchasing an additional 950 shares in the last quarter. State of Wyoming lifted its stake in Consolidated Water by 6.0% during the second quarter. State of Wyoming now owns 11,243 shares of the utilities provider's stock worth $338,000 after purchasing an additional 632 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Consolidated Water by 335.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Consolidated Water by 3,776.7% during the second quarter. Lazard Asset Management LLC now owns 13,801 shares of the utilities provider's stock worth $414,000 after purchasing an additional 13,445 shares in the last quarter. 55.16% of the stock is currently owned by institutional investors and hedge funds.

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.