Global Water Resources (NASDAQ:GWRS) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Global Water Resources (NASDAQ:GWRS - Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Global Water Resources Stock Performance

GWRS traded down $0.14 during trading hours on Thursday, hitting $10.22. The stock had a trading volume of 34,640 shares, compared to its average volume of 31,768. The stock has a market cap of $280.41 million, a PE ratio of 37.80, a price-to-earnings-growth ratio of 2.53 and a beta of 1.06. Global Water Resources has a 1 year low of $9.37 and a 1 year high of $13.98. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47. The company's fifty day simple moving average is $10.29 and its 200 day simple moving average is $11.34.

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

Global Water Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.0253 per share. The ex-dividend date is Friday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 2.98%. Global Water Resources's dividend payout ratio (DPR) is 130.43%.

Insider Buying and Selling at Global Water Resources

In other news, Director Andrew M. Cohn acquired 252,000 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $2,520,000.00. Following the completion of the transaction, the director now owns 2,379,899 shares of the company's stock, valued at $23,798,990. The trade was a 11.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 54.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GWRS. Jane Street Group LLC bought a new position in shares of Global Water Resources in the first quarter worth $109,000. Blair William & Co. IL purchased a new stake in shares of Global Water Resources in the 1st quarter valued at about $113,000. Gitterman Wealth Management LLC purchased a new stake in shares of Global Water Resources in the 4th quarter valued at about $123,000. Deutsche Bank AG boosted its position 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 valued at $173,000 after acquiring an additional 14,659 shares during the last quarter. Finally, Rhumbline Advisers grew 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 in the last quarter. 27.91% of the stock is owned by institutional investors.

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.