Kingstone Capital Partners Texas LLC Acquires Shares of 950,512 Consolidated Water Co. Ltd. $CWCO

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Consolidated Water Co. Ltd., purchasing 950,512 shares valued at approximately $31 million, representing about 5.97% ownership.
• Consolidated Water reported a quarterly earnings per share (EPS) of $0.32, exceeding analysts' expectations of $0.20, with a net margin of 12.24% and revenue of $33.59 million for the quarter.
• The company announced a quarterly dividend of $0.14, with a yield of 1.7%, while maintaining a payout ratio of 34.57%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 950,512 shares of the utilities provider's stock, valued at approximately $31,013,000. Kingstone Capital Partners Texas LLC owned 5.97% of Consolidated Water as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Consolidated Water during the second quarter worth $30,000. CWM LLC boosted its stake in shares of Consolidated Water by 228.6% during the 1st quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock worth $46,000 after acquiring an additional 1,294 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Consolidated Water by 35.9% during the 2nd quarter. Byrne Asset Management LLC now owns 2,254 shares of the utilities provider's stock worth $68,000 after purchasing an additional 595 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Consolidated Water during the 1st quarter worth about $60,000. Finally, GAMMA Investing LLC lifted its position 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 worth $70,000 after purchasing an additional 2,720 shares during the last quarter. Institutional investors own 55.16% of the company's stock.

Consolidated Water Price Performance

Shares of CWCO traded up $0.16 during midday trading on Tuesday, hitting $34.68. The stock had a trading volume of 15,151 shares, compared to its average volume of 121,969. Consolidated Water Co. Ltd. has a twelve month low of $22.69 and a twelve month high of $34.83. The firm has a market cap of $552.37 million, a price-to-earnings ratio of 21.40 and a beta of 0.57. The company has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $28.32.

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 for the quarter, topping 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 analysts' expectations of $32.75 million. Analysts forecast that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.14 per share. 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 1.6%. Consolidated Water's dividend payout ratio is 34.57%.

Insider Buying and Selling

In other Consolidated Water news, Director Raymond Whittaker sold 4,755 shares of the company's 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CWCO. Roth Capital boosted their price objective 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 cut Consolidated Water from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Consolidated Water has a consensus rating of "Buy" and a consensus target price of $40.00.

About Consolidated Water

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.