Avantax Advisory Services Inc. Buys New Shares in Consolidated Water Co. Ltd. (NASDAQ:CWCO)

Key Points

• Avantax Advisory Services Inc. has acquired 9,975 shares of Consolidated Water Co. Ltd., worth approximately $244,000, marking a new investment in the company.
• Consolidated Water has raised its quarterly dividend to $0.14, resulting in an annualized dividend of $0.56 and a yield of 1.9%, indicating positive performance.
• Analysts have upgraded Consolidated Water from a "sell" to a "hold" rating, reflecting a shift in market sentiment toward the firm's stock.

Avantax Advisory Services Inc. acquired a new position in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,975 shares of the utilities provider's stock, valued at approximately $244,000. Avantax Advisory Services Inc. owned 0.06% of Consolidated Water as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Consolidated Water by 2,247.9% in the 1st 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. Allspring Global Investments Holdings LLC raised its stake in Consolidated Water by 4.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,576 shares of the utilities provider's stock worth $1,459,000 after buying an additional 2,323 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Consolidated Water during the 1st quarter worth $273,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Consolidated Water by 7.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,620 shares of the utilities provider's stock worth $301,000 after buying an additional 764 shares during the period. Finally, Millennium Management LLC acquired a new stake in Consolidated Water during the 4th quarter worth $2,167,000. 55.16% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Water Price Performance

Shares of CWCO traded up $2.56 during midday trading on Tuesday, hitting $32.27. The stock had a trading volume of 215,175 shares, compared to its average volume of 125,150. The company has a 50 day simple moving average of $29.39 and a two-hundred day simple moving average of $27.00. Consolidated Water Co. Ltd. has a twelve month low of $22.69 and a twelve month high of $32.50. The firm has a market cap of $513.74 million, a price-to-earnings ratio of 19.92 and a beta of 0.53.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its quarterly earnings results 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. Consolidated Water had a return on equity of 7.43% and a net margin of 20.75%. The firm had revenue of $33.59 million for the quarter, compared to the consensus estimate of $32.75 million. Analysts forecast that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.7%. This is a positive change from Consolidated Water's previous quarterly dividend of $0.11. Consolidated Water's dividend payout ratio (DPR) is 34.57%.

Analysts Set New Price Targets

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

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.