Invesco Ltd. lifted its stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) by 27.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,288 shares of the utilities provider's stock after buying an additional 65,744 shares during the period. Invesco Ltd. owned about 1.92% of Consolidated Water worth $7,501,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Consolidated Water by 35.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 58,488 shares of the utilities provider's stock worth $1,432,000 after buying an additional 15,313 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Consolidated Water during the 1st quarter worth approximately $60,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Consolidated Water during the 1st quarter worth approximately $446,000. Raiffeisen Bank International AG grew its position in Consolidated Water by 96.0% during the 1st quarter. Raiffeisen Bank International AG now owns 19,604 shares of the utilities provider's stock worth $479,000 after acquiring an additional 9,604 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in Consolidated Water during the 1st quarter worth approximately $3,687,000. 55.16% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Consolidated Water news, Director Raymond Whittaker sold 4,755 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $33.35, for a total value of $158,579.25. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $33,350. This trade represents a 82.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.25% of the company's stock.
Consolidated Water Stock Performance
CWCO traded down $0.33 during mid-day trading on Friday, reaching $33.27. The stock had a trading volume of 71,079 shares, compared to its average volume of 107,172. The stock has a market capitalization of $529.99 million, a P/E ratio of 20.54 and a beta of 0.57. The firm's fifty day simple moving average is $30.69 and its two-hundred day simple moving average is $27.63. Consolidated Water Co. Ltd. has a 52 week low of $22.69 and a 52 week high of $34.26.
Consolidated Water (NASDAQ:CWCO - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.12. The firm had revenue of $33.59 million for the quarter, compared to analyst estimates of $32.75 million. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%. As a group, analysts expect that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.
Consolidated Water Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, October 1st. Consolidated Water's dividend payout ratio (DPR) is presently 34.57%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Roth Capital increased their price target on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Consolidated Water from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $40.00.
Get Our Latest Stock Analysis on Consolidated Water
About Consolidated Water
(
Free Report)
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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