Global Water Resources, Inc. $GWRS Stock Purchased by TSP Capital Management Group LLC

Key Points

• TSP Capital Management Group increased its GWRS stake by 9.8% in the third quarter, adding 131,396 shares to own 1.47 million shares, or 5.11% of Global Water Resources. Institutional investors collectively hold 27.91% of the company.
• Director Andrew Cohn purchased 139,343 shares at an average price of $8.85, while insiders now own 53.70% of the stock. The company reported quarterly EPS of $0.04 and revenue of $17.77 million, exceeding analyst estimates.
• Global Water Resources declared a monthly dividend of $0.0253 per share, equivalent to a 3.8% annualized yield, though its payout ratio is high at 272.73%. Analysts maintain a consensus “Hold” rating with an average price target of $15.00.

TSP Capital Management Group LLC lifted its position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) by 9.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,471,701 shares of the utilities provider's stock after buying an additional 131,396 shares during the quarter. Global Water Resources comprises 3.0% of TSP Capital Management Group LLC's holdings, making the stock its 16th biggest position. TSP Capital Management Group LLC owned 5.11% of Global Water Resources worth $11,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cullen Capital Management LLC acquired a new stake in Global Water Resources in the second quarter valued at about $242,000. Bank of New York Mellon Corp acquired a new stake in shares of Global Water Resources in the 2nd quarter valued at approximately $253,000. Dynamic Advisor Solutions LLC boosted its stake in shares of Global Water Resources by 4.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider's stock valued at $404,000 after purchasing an additional 2,133 shares in the last quarter. Heartland Advisors Inc. boosted its stake in shares of Global Water Resources by 21.1% in the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider's stock valued at $6,308,000 after purchasing an additional 144,600 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Global Water Resources by 36.5% in the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider's stock valued at $3,153,000 after buying an additional 111,000 shares in the last quarter. Institutional investors own 27.91% of the company's stock.

Insider Activity at Global Water Resources

In other Global Water Resources news, Director Andrew Cohn acquired 139,343 shares of the company's stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the completion of the purchase, the director owned 2,701,350 shares of the company's stock, valued at approximately $23,906,947.50. This represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 53.70% of the stock is currently owned by corporate insiders.

Global Water Resources Stock Up 1.9%

Global Water Resources stock opened at $8.09 on Friday. The company has a market capitalization of $232.99 million, a PE ratio of 88.22 and a beta of 0.95. Global Water Resources, Inc. has a 12-month low of $6.55 and a 12-month high of $10.96. The firm's fifty day moving average is $8.48 and its 200 day moving average is $7.67. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $17.77 million during the quarter, compared to analysts' expectations of $14.93 million. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. As a group, sell-side analysts predict that Global Water Resources, Inc. will post 0.09 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.0253 per share. The ex-dividend date is Friday, October 16th. This represents a $0.30 annualized dividend and a dividend yield of 3.8%. Global Water Resources's payout ratio is currently 272.73%.

Analysts Set New Price Targets

Several brokerages have commented on GWRS. Weiss Ratings raised Global Water Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Wall Street Zen upgraded Global Water Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.00.

Global Water Resources Company Profile

Global Water Resources, Inc NASDAQ: GWRS is a water resource management company that owns, operates and manages regulated water, wastewater and recycled water utilities. The company provides essential services to residential, commercial and industrial customers, with a focus on managing the entire water cycle within the communities it serves.

Global Water Resources operates primarily in the metropolitan Phoenix area and other growing communities in Arizona. Its services include potable water delivery, wastewater collection and treatment, water reuse, conservation programs, infrastructure maintenance and customer billing.

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