Heartland Advisors Inc. Takes $4.64 Million Position in Global Water Resources, Inc. (NASDAQ:GWRS)

Key Points

• Heartland Advisors Inc. has made a new investment of approximately $4.64 million in Global Water Resources, acquiring 450,000 shares, which represents a 1.67% ownership stake.
• Global Water Resources reported a net margin of 10.63% for the last quarter, with a revenue of $12.46 million that exceeded analysts' estimates.
• The company announced a monthly dividend of $0.0253, resulting in an annualized dividend yield of 2.99%.

Heartland Advisors Inc. purchased a new position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 450,000 shares of the utilities provider's stock, valued at approximately $4,640,000. Heartland Advisors Inc. owned 1.67% of Global Water Resources at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in shares of Global Water Resources by 4,273.8% during the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock worth $173,000 after purchasing an additional 14,659 shares during the period. Rhumbline Advisers lifted its holdings in shares of Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock worth $181,000 after purchasing an additional 1,884 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Global Water Resources by 7.0% during the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock worth $232,000 after purchasing an additional 1,327 shares during the period. Bank of America Corp DE lifted its holdings in shares of Global Water Resources by 61.8% during the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider's stock worth $282,000 after purchasing an additional 9,370 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Global Water Resources by 87.8% during the fourth quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider's stock worth $311,000 after purchasing an additional 12,654 shares during the period. 27.91% of the stock is owned by institutional investors and hedge funds.

Global Water Resources Stock Performance

Shares of NASDAQ GWRS traded up $0.15 during mid-day trading on Wednesday, hitting $9.96. 11,431 shares of the company were exchanged, compared to its average volume of 45,123. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $10.70. Global Water Resources, Inc. has a 1-year low of $9.37 and a 1-year high of $13.98. The firm has a market cap of $273.40 million, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 3.13 and a beta of 1.03.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. Global Water Resources had a return on equity of 11.27% and a net margin of 10.63%. The company had revenue of $12.46 million during the quarter, compared to the consensus estimate of $12.00 million. On average, sell-side analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be issued a $0.0253 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, July 17th. Global Water Resources's dividend payout ratio (DPR) is currently 130.43%.

Analyst Ratings Changes

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

Global Water Resources Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.