TrueMark Investments LLC Buys Shares of 49,622 Consolidated Water Co. Ltd. $CWCO

Key Points

• TrueMark Investments LLC acquired 49,622 shares of Consolidated Water Co. Ltd. during the second quarter, valued at about $1.49 million, which represents approximately 0.31% of the company.
• Consolidated Water's recent quarterly earnings reported earnings per share of $0.32, exceeding analysts' expectations of $0.20, with a revenue of $33.59 million.
• The company has declared a quarterly dividend of $0.14 per share, payable on October 31st, which translates to an annualized dividend yield of 1.5%.

TrueMark Investments LLC acquired a new position in Consolidated Water Co. Ltd. (NASDAQ:CWCO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 49,622 shares of the utilities provider's stock, valued at approximately $1,490,000. TrueMark Investments LLC owned approximately 0.31% of Consolidated Water as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. bought a new stake in shares of Consolidated Water in the 1st quarter worth $244,000. Goldman Sachs Group Inc. raised its stake in shares of Consolidated Water by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 171,037 shares of the utilities provider's stock worth $4,189,000 after buying an additional 13,061 shares in the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Consolidated Water in the 1st quarter worth $3,687,000. GAMMA Investing LLC raised its stake in shares of Consolidated Water by 2,247.9% in the 1st quarter. GAMMA Investing LLC now owns 2,841 shares of the utilities provider's stock worth $70,000 after buying an additional 2,720 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Consolidated Water by 4.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 59,576 shares of the utilities provider's stock worth $1,459,000 after buying an additional 2,323 shares in 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 Consolidated Water stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $33.35, for a total transaction of $158,579.25. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $33,350. The trade was a 82.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.25% of the company's stock.

Consolidated Water Stock Up 0.6%

Shares of Consolidated Water stock opened at $36.24 on Friday. The stock's fifty day moving average is $33.65 and its 200-day moving average is $29.39. The firm has a market capitalization of $577.30 million, a PE ratio of 22.37 and a beta of 0.53. Consolidated Water Co. Ltd. has a 12-month low of $22.69 and a 12-month high of $36.52.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.12. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%.The business had revenue of $33.59 million for the quarter, compared to the consensus estimate of $32.75 million. Analysts expect that Consolidated Water Co. Ltd. will post 1.27 EPS for the current year.

Consolidated Water Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, October 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Consolidated Water's payout ratio is currently 34.57%.

Analyst Ratings Changes

A number of research firms have recently commented on CWCO. Wall Street Zen raised Consolidated Water from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Roth Capital boosted their target price on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings raised Consolidated Water from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.