Consolidated Water (NASDAQ:CWCO) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.26 and traded as high as $31.30. Consolidated Water shares last traded at $31.25, with a volume of 63,067 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Consolidated Water from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Consolidated Water Stock Performance

The stock has a market capitalization of $487.70 million, a price-to-earnings ratio of 18.91 and a beta of 0.47. The company has a 50-day moving average of $27.23 and a 200-day moving average of $26.35.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. Consolidated Water had a return on equity of 7.43% and a net margin of 20.75%. The firm had revenue of $33.72 million during the quarter, compared to the consensus estimate of $32.30 million. As a group, analysts expect that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 1st will be given a dividend of $0.14 per share. This is an increase from Consolidated Water's previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, July 1st. Consolidated Water's payout ratio is currently 34.57%.

Hedge Funds Weigh In On Consolidated Water

A number of institutional investors have recently modified their holdings of CWCO. CWM LLC raised its position in shares of Consolidated Water by 228.6% in the first quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock valued at $46,000 after buying an additional 1,294 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Consolidated Water in the first quarter valued at approximately $60,000. GAMMA Investing LLC raised its position in shares of Consolidated Water by 2,247.9% in the first quarter. GAMMA Investing LLC now owns 2,841 shares of the utilities provider's stock valued at $70,000 after buying an additional 2,720 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Consolidated Water by 1,538.3% in the fourth quarter. Quantbot Technologies LP now owns 3,981 shares of the utilities provider's stock valued at $103,000 after buying an additional 3,738 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Consolidated Water in the first quarter valued at approximately $130,000. Institutional investors and hedge funds own 55.16% of the company's stock.

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.