Kingstone Capital Partners Texas LLC Takes Position in 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 stake in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 950,512 shares of the utilities provider's stock, valued at approximately $31,013,000. Kingstone Capital Partners Texas LLC owned approximately 5.97% of Consolidated Water as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CWCO. Avantax Advisory Services Inc. purchased a new position in shares of Consolidated Water during the first quarter valued at approximately $244,000. Seizert Capital Partners LLC purchased a new position in shares of Consolidated Water during the first quarter valued at approximately $3,687,000. Allspring Global Investments Holdings LLC raised 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 valued at $1,459,000 after purchasing an additional 2,323 shares during the last quarter. GAMMA Investing LLC raised 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 valued at $70,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Consolidated Water by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 171,037 shares of the utilities provider's stock valued at $4,189,000 after purchasing an additional 13,061 shares during the last quarter. Institutional investors own 55.16% of the company's stock.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 4,755 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $33.35, for a total value 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 link. Corporate insiders own 6.25% of the company's stock.

Analyst Ratings Changes

CWCO has been the subject of several research reports. Roth Capital boosted their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen cut shares of Consolidated Water from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $40.00.

Consolidated Water Stock Up 1.8%

Consolidated Water stock traded up $0.62 during mid-day trading on Monday, reaching $34.54. 52,300 shares of the company's stock traded hands, compared to its average volume of 122,420. The company has a market cap of $550.22 million, a price-to-earnings ratio of 21.32 and a beta of 0.57. The stock has a 50 day moving average of $31.63 and a two-hundred day moving average of $28.27. Consolidated Water Co. Ltd. has a 12-month low of $22.69 and a 12-month high of $34.58.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.12. The company had revenue of $33.59 million for 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, sell-side analysts forecast that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. Consolidated Water's dividend payout ratio is currently 34.57%.

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.