Goldman Sachs Group Inc. Purchases 13,061 Shares of Consolidated Water Co. Ltd. $CWCO

Key Points

• Goldman Sachs Group Inc. increased its holdings in Consolidated Water Co. Ltd. by 8.3%, owning a total of 171,037 shares worth approximately $4.2 million.
• Consolidated Water recently reported earnings of $0.32 per share for the last quarter, which beat expectations, along with revenue of $33.59 million.
• The company announced a quarterly dividend of $0.14 per share, with a yield of 1.6%, set to be paid on October 31st.

Goldman Sachs Group Inc. boosted its stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 171,037 shares of the utilities provider's stock after acquiring an additional 13,061 shares during the period. Goldman Sachs Group Inc. owned 1.07% of Consolidated Water worth $4,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CWCO. CWM LLC raised its position in Consolidated Water by 228.6% in the first quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock worth $46,000 after acquiring an additional 1,294 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Consolidated Water during the 1st quarter valued at approximately $60,000. GAMMA Investing LLC lifted its stake in shares of Consolidated Water by 2,247.9% during the 1st 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 in the last quarter. Strs Ohio purchased a new stake in shares of Consolidated Water during the 1st quarter valued at approximately $130,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Consolidated Water by 22.2% during the 1st quarter. Russell Investments Group Ltd. now owns 8,435 shares of the utilities provider's stock valued at $207,000 after buying an additional 1,530 shares in the last quarter. Institutional investors own 55.16% of the company's stock.

Consolidated Water Trading Down 1.7%

Shares of NASDAQ:CWCO traded down $0.59 during trading on Friday, reaching $33.92. The company had a trading volume of 315,538 shares, compared to its average volume of 90,856. The company has a fifty day moving average of $31.63 and a two-hundred day moving average of $28.27. The stock has a market capitalization of $540.35 million, a P/E ratio of 20.94 and a beta of 0.57. Consolidated Water Co. Ltd. has a 12 month low of $22.69 and a 12 month high of $34.58.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its earnings results on Monday, August 11th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.20 by $0.12. Consolidated Water had a net margin of 12.24% and a return on equity of 7.77%. The company had revenue of $33.59 million for the quarter, compared to analyst estimates of $32.75 million. As a group, equities research analysts predict that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.7%. Consolidated Water's dividend payout ratio (DPR) is currently 34.57%.

Insider Activity at Consolidated Water

In related news, Director Raymond Whittaker sold 4,755 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $33.35, for a total transaction of $158,579.25. Following the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $33,350. This trade represents a 82.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CWCO. Wall Street Zen cut shares of Consolidated Water from a "buy" rating to a "hold" rating in a research note on Saturday. Roth Capital upped their target price on shares of Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $40.00.

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.