Global Water Resources, Inc. (NASDAQ:GWRS) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has significantly reduced its stake in Global Water Resources, selling 75,956 shares, which lowered its holdings by 71.7% to 30,044 shares valued at $310,000.
• Other institutional investors, including North Star Investment Management Corp and Wesbanco Bank Inc, have increased their stakes in Global Water Resources, demonstrating a mixed sentiment among large shareholders.
• Global Water Resources is set to pay a $0.0253 monthly dividend on July 31st, offering investors a 3.10% yield, despite having a high payout ratio of 130.43%.

Royce & Associates LP lessened its position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) by 71.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,044 shares of the utilities provider's stock after selling 75,956 shares during the quarter. Royce & Associates LP owned approximately 0.11% of Global Water Resources worth $310,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its position in shares of Global Water Resources by 4,273.8% in the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock valued at $173,000 after buying an additional 14,659 shares during the last quarter. Rhumbline Advisers lifted its position in Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after buying an additional 1,884 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Global Water Resources by 7.0% in the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock valued at $232,000 after buying an additional 1,327 shares during the last quarter. Bank of America Corp DE increased its stake in Global Water Resources by 61.8% during the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider's stock worth $282,000 after purchasing an additional 9,370 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Global Water Resources by 87.8% during the fourth quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider's stock worth $311,000 after purchasing an additional 12,654 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Global Water Resources from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Global Water Resources Stock Up 0.7%

GWRS stock traded up $0.07 during trading on Friday, hitting $9.62. 190,712 shares of the company's stock were exchanged, compared to its average volume of 57,578. The business has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $10.67. The stock has a market capitalization of $264.07 million, a price-to-earnings ratio of 41.83, a PEG ratio of 2.96 and a beta of 1.05. Global Water Resources, Inc. has a 52-week low of $9.37 and a 52-week high of $13.98. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.54.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The firm had revenue of $12.46 million during the quarter, compared to analysts' expectations of $12.00 million. Global Water Resources had a return on equity of 11.27% and a net margin of 10.63%. As a group, equities research analysts expect that Global Water Resources, Inc. will post 0.28 EPS for the current year.

Global Water Resources Announces Dividend

The company also recently declared a aug 25 dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.0253 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a yield of 310.0%. Global Water Resources's payout ratio is 130.43%.

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.