Consolidated Water (NASDAQ:CWCO) Stock Price Passes Above 200-Day Moving Average - Here's Why

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

Wall Street Analysts Forecast Growth

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

Consolidated Water Stock Performance

The business has a fifty day simple moving average of $27.08 and a 200 day simple moving average of $26.31. The stock has a market cap of $497.42 million, a price-to-earnings ratio of 19.29 and a beta of 0.47.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last posted 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 business had revenue of $33.72 million for the quarter, compared to analysts' expectations of $32.30 million. On average, equities research analysts anticipate that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.14 per share. This is a boost from Consolidated Water's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.79%. Consolidated Water's dividend payout ratio (DPR) is 34.57%.

Institutional Investors Weigh In On Consolidated Water

Several hedge funds have recently made changes to their positions in CWCO. CWM LLC boosted its holdings in shares of Consolidated Water by 228.6% during the first quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock worth $46,000 after purchasing an additional 1,294 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Consolidated Water during the first quarter worth $60,000. GAMMA Investing LLC boosted its holdings in shares of Consolidated Water by 2,247.9% during the first quarter. GAMMA Investing LLC now owns 2,841 shares of the utilities provider's stock worth $70,000 after purchasing an additional 2,720 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Consolidated Water by 1,538.3% during the fourth quarter. Quantbot Technologies LP now owns 3,981 shares of the utilities provider's stock worth $103,000 after purchasing an additional 3,738 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Consolidated Water during the first quarter worth $130,000. Institutional investors and hedge funds 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.