Wesbanco Bank Inc. Has $634,000 Stake in Global Water Resources, Inc. (NASDAQ:GWRS)

Wesbanco Bank Inc. increased its position in Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) by 98.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,500 shares of the utilities provider's stock after buying an additional 30,500 shares during the period. Wesbanco Bank Inc. owned 0.23% of Global Water Resources worth $634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gitterman Wealth Management LLC bought a new stake in Global Water Resources in the fourth quarter worth $123,000. Deutsche Bank AG boosted its stake in shares of Global Water Resources by 4,273.8% during the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock worth $173,000 after acquiring an additional 14,659 shares in the last quarter. Rhumbline Advisers boosted its position in Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock worth $181,000 after purchasing an additional 1,884 shares during the period. Ameriprise Financial Inc. grew its holdings in Global Water Resources by 7.0% during the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock valued at $232,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings 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 valued at $282,000 after purchasing an additional 9,370 shares during the last quarter. Institutional investors own 27.91% of the company's stock.

Insiders Place Their Bets

In other Global Water Resources news, Director Andrew M. Cohn purchased 252,000 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $2,520,000.00. Following the transaction, the director now directly owns 2,379,899 shares in the company, valued at approximately $23,798,990. The trade was a 11.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 54.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Global Water Resources from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Global Water Resources Stock Performance

Shares of NASDAQ GWRS traded up $0.01 during trading hours on Thursday, hitting $10.67. 24,230 shares of the company's stock were exchanged, compared to its average volume of 32,907. The company's 50-day moving average price is $10.27 and its 200-day moving average price is $11.14. Global Water Resources, Inc. has a 1-year low of $9.37 and a 1-year high of $13.98. The stock has a market capitalization of $292.90 million, a price-to-earnings ratio of 39.52, a PEG ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The company had revenue of $12.46 million for the quarter, compared to analyst estimates of $12.00 million. On average, sell-side analysts expect that Global Water Resources, Inc. will post 0.28 earnings per share for the current fiscal year.

Global Water Resources Announces Dividend

The business also recently declared a jun 25 dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0253 dividend. This represents a yield of 3%. The ex-dividend date of this dividend is Monday, June 16th. Global Water Resources's dividend payout ratio (DPR) is 130.43%.

About Global Water Resources

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.