Invesco Ltd. lifted its holdings in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 306,288 shares of the utilities provider's stock after purchasing an additional 65,744 shares during the period. Invesco Ltd. owned 1.92% of Consolidated Water worth $7,501,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. bought a new stake in shares of Consolidated Water during the first quarter worth $244,000. Seizert Capital Partners LLC bought a new stake in shares of Consolidated Water during the first quarter worth $3,687,000. GAMMA Investing LLC grew its holdings in shares of Consolidated Water by 2,247.9% during the first quarter. GAMMA Investing LLC now owns 2,841 shares of the utilities provider's stock worth $70,000 after purchasing an additional 2,720 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Consolidated Water by 4.1% during the first 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 bought a new stake in shares of Consolidated Water during the first quarter worth $273,000. Institutional investors own 55.16% of the company's stock.
Insiders Place Their Bets
In other Consolidated Water news, Director Raymond Whittaker sold 4,755 shares of the stock in a transaction dated 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 owned 1,000 shares of the company's stock, valued at approximately $33,350. This represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.25% of the company's stock.
Consolidated Water Trading Down 1.3%
NASDAQ:CWCO opened at $33.12 on Tuesday. Consolidated Water Co. Ltd. has a 1-year low of $22.69 and a 1-year high of $34.26. The business's 50-day moving average price is $30.34 and its two-hundred day moving average price is $27.44. The firm has a market capitalization of $527.60 million, a price-to-earnings ratio of 20.44 and a beta of 0.53.
Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its earnings results on Monday, August 11th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.12. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%.The firm had revenue of $33.59 million for the quarter, compared to analyst estimates of $32.75 million. Sell-side analysts predict that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.
Consolidated Water Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Consolidated Water's previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 1.7%. Consolidated Water's payout ratio is currently 34.57%.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Roth Capital increased their target price on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Consolidated Water from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Consolidated Water presently has an average rating of "Buy" and a consensus price target of $40.00.
Check Out Our Latest Stock Analysis on Consolidated Water
Consolidated Water Profile
(
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.
See Also
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