HighTower Advisors LLC Purchases Shares of 12,236 Consolidated Water Co. Ltd. $CWCO

Key Points

• HighTower Advisors LLC acquired a new stake in Consolidated Water Co. Ltd. by purchasing 12,236 shares valued at approximately $300,000 during the 1st quarter, bringing its ownership to about 0.08%.
• Consolidated Water recently reported an EPS of $0.32 for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.14, reflecting a yield of 1.7%.
• Analysts have upgraded the stock from "hold" to "buy," with a consensus target price now set at $40.00, indicating positive sentiment towards its future performance.

HighTower Advisors LLC purchased a new stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,236 shares of the utilities provider's stock, valued at approximately $300,000. HighTower Advisors LLC owned about 0.08% of Consolidated Water at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in Consolidated Water in the 1st quarter valued at $244,000. Seizert Capital Partners LLC acquired a new stake in Consolidated Water in the 1st quarter valued at $3,687,000. GAMMA Investing LLC increased its stake in Consolidated Water by 2,247.9% in 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 during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 purchasing an additional 2,323 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Consolidated Water during the 1st quarter worth about $273,000. 55.16% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Water Stock Down 2.2%

Shares of CWCO stock opened at $32.55 on Wednesday. The firm has a 50 day moving average price of $30.82 and a two-hundred day moving average price of $27.71. The company has a market capitalization of $518.52 million, a PE ratio of 20.09 and a beta of 0.58. Consolidated Water Co. Ltd. has a 12-month low of $22.69 and a 12-month high of $34.26.

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

Consolidated Water Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CWCO. Wall Street Zen upgraded shares of Consolidated Water from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Roth Capital boosted their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Consolidated Water currently has a consensus rating of "Buy" and a consensus target price of $40.00.

Insider Transactions at Consolidated Water

In other Consolidated Water news, Director Raymond Whittaker sold 4,755 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $33.35, for a total value of $158,579.25. Following the completion of the sale, the director owned 1,000 shares of the company's stock, valued at $33,350. The trade was a 82.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.25% of the stock is owned by corporate insiders.

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.

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