Millennium Management LLC Acquires Shares of 83,698 Consolidated Water Co. Ltd. (NASDAQ:CWCO)

Millennium Management LLC purchased a new position in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 83,698 shares of the utilities provider's stock, valued at approximately $2,167,000. Millennium Management LLC owned about 0.53% of Consolidated Water at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP purchased a new position in Consolidated Water in the 4th quarter worth approximately $4,443,000. Heartland Advisors Inc. purchased a new stake in Consolidated Water in the fourth quarter worth $2,833,000. Northern Trust Corp raised its holdings in shares of Consolidated Water by 32.9% in the fourth quarter. Northern Trust Corp now owns 194,024 shares of the utilities provider's stock valued at $5,023,000 after acquiring an additional 47,982 shares in the last quarter. Trexquant Investment LP boosted its stake in shares of Consolidated Water by 284.8% during the fourth quarter. Trexquant Investment LP now owns 43,381 shares of the utilities provider's stock valued at $1,123,000 after purchasing an additional 32,106 shares in the last quarter. Finally, Illumine Investment Management LLC purchased a new position in shares of Consolidated Water in the 4th quarter valued at $436,000. 55.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 Price Performance

NASDAQ CWCO traded up $0.04 during mid-day trading on Thursday, hitting $27.17. The stock had a trading volume of 89,426 shares, compared to its average volume of 109,189. The firm's 50 day moving average is $24.80 and its 200 day moving average is $25.84. The stock has a market capitalization of $432.46 million, a price-to-earnings ratio of 16.77, a PEG ratio of 2.44 and a beta of 0.39. Consolidated Water Co. Ltd. has a twelve month low of $22.69 and a twelve month high of $29.88.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.09. Consolidated Water had a return on equity of 12.98% and a net margin of 23.06%. The business had revenue of $33.72 million during the quarter, compared to analysts' expectations of $32.30 million. As a group, equities research analysts expect that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Consolidated Water's previous quarterly dividend of $0.11. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.06%. Consolidated Water's dividend payout ratio is 27.16%.

Consolidated Water 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.