Nuveen LLC Makes New Investment in Global Water Resources, Inc. $GWRS

Key Points

• Nuveen LLC acquired a stake in Global Water Resources, Inc., investing approximately $341,000 to purchase 33,038 shares, representing about 0.12% of the company.
• The company announced a dividend of $0.0253 per share, with a dividend yield of 315.0%, payable on September 30th to stockholders of record.
• Analysts have downgraded Global Water Resources from a "hold" rating to a "sell" rating, indicating potential concerns about the company's future performance.

Nuveen LLC bought a new stake in Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,038 shares of the utilities provider's stock, valued at approximately $341,000. Nuveen LLC owned approximately 0.12% of Global Water Resources at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. grew its position in Global Water Resources by 34.1% in the first quarter. Invesco Ltd. now owns 36,940 shares of the utilities provider's stock valued at $381,000 after purchasing an additional 9,385 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Water Resources by 14.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 35,075 shares of the utilities provider's stock worth $362,000 after buying an additional 4,424 shares during the period. Blair William & Co. IL bought a new stake in Global Water Resources in the 1st quarter valued at about $113,000. Heartland Advisors Inc. bought a new stake in Global Water Resources in the 1st quarter valued at about $4,640,000. Finally, North Star Investment Management Corp. boosted its holdings in Global Water Resources by 46.3% in the 1st quarter. North Star Investment Management Corp. now owns 342,593 shares of the utilities provider's stock valued at $3,532,000 after purchasing an additional 108,500 shares during the period. Institutional investors own 27.91% of the company's stock.

Global Water Resources Trading Up 2.3%

Shares of NASDAQ:GWRS traded up $0.22 during trading on Thursday, reaching $9.91. The stock had a trading volume of 28,463 shares, compared to its average volume of 44,411. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.09 and a current ratio of 1.09. Global Water Resources, Inc. has a 52 week low of $9.27 and a 52 week high of $13.98. The firm's fifty day moving average is $9.95 and its 200 day moving average is $10.31. The stock has a market cap of $272.23 million, a price-to-earnings ratio of 45.05 and a beta of 1.04.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. Global Water Resources had a net margin of 10.27% and a return on equity of 9.67%. The company had revenue of $14.24 million for the quarter, compared to the consensus estimate of $14.20 million. As a group, equities analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.0253 per share. This represents a dividend yield of 315.0%. The ex-dividend date is Tuesday, September 16th. Global Water Resources's payout ratio is presently 136.36%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Global Water Resources from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.