Global Water Resources, Inc. (NASDAQ:GWRS) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. lifted its position in shares of Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) by 98.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,500 shares of the utilities provider's stock after buying an additional 30,500 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.23% of Global Water Resources worth $634,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GWRS. Gitterman Wealth Management LLC bought a new position in Global Water Resources in the fourth quarter worth about $123,000. Deutsche Bank AG raised its stake in Global Water Resources by 4,273.8% in 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 during the last quarter. Rhumbline Advisers lifted its holdings in shares of 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. boosted its holdings in shares of Global Water Resources by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock valued at $232,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Global Water Resources by 61.8% during the 4th 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. Hedge funds and other institutional investors own 27.91% of the company's stock.

Insider Buying and Selling at Global Water Resources

In other news, Director Andrew M. Cohn acquired 252,000 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the director now owns 2,379,899 shares of the company's stock, valued at $23,798,990. This represents a 11.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 54.30% of the stock is currently owned by corporate insiders.

Global Water Resources Price Performance

NASDAQ:GWRS traded down $0.30 during trading hours on Friday, hitting $10.37. 42,554 shares of the stock were exchanged, compared to its average volume of 33,067. The firm's fifty day moving average price is $10.29 and its 200 day moving average price is $11.10. The company has a market cap of $284.67 million, a P/E ratio of 38.41, a P/E/G ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. Global Water Resources, Inc. has a 52-week low of $9.37 and a 52-week high of $13.98.

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

Global Water Resources Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a yield of 3%. Global Water Resources's dividend payout ratio is currently 130.43%.

Wall Street Analyst Weigh In

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

Global Water Resources 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.