Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.65 and traded as high as $9.24. Global Water Resources shares last traded at $9.13, with a volume of 87,281 shares.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Global Water Resources in a report on Monday, August 17th. Wall Street Zen upgraded Global Water Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Global Water Resources has an average rating of "Reduce" and a consensus target price of $15.00.
Read Our Latest Stock Analysis on GWRS
Global Water Resources Trading Down 0.4%
The firm has a market capitalization of $262.94 million, a PE ratio of 83.01 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The company's 50-day simple moving average is $7.65 and its 200 day simple moving average is $7.66.
Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The firm had revenue of $17.77 million for the quarter, compared to the consensus estimate of $14.93 million. As a group, sell-side analysts expect that Global Water Resources, Inc. will post 0.09 EPS for the current year.
Global Water Resources Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.0253 per share. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 17th. Global Water Resources's payout ratio is 272.73%.
Insider Transactions at Global Water Resources
In other Global Water Resources news, Director Andrew M. Cohn purchased 139,343 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the completion of the purchase, the director owned 2,701,350 shares in the company, valued at $23,906,947.50. This represents a 5.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.70% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Global Water Resources
Several hedge funds have recently modified their holdings of GWRS. Barclays PLC lifted its stake in shares of Global Water Resources by 4.1% during the fourth quarter. Barclays PLC now owns 45,186 shares of the utilities provider's stock worth $382,000 after buying an additional 1,784 shares during the period. Rhumbline Advisers increased its position in shares of Global Water Resources by 12.0% in the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after acquiring an additional 1,884 shares during the period. Alliancebernstein L.P. increased its position in shares of Global Water Resources by 16.5% in the 3rd quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider's stock valued at $138,000 after acquiring an additional 1,900 shares during the period. Russell Investments Group Ltd. raised its stake in Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider's stock worth $36,000 after acquiring an additional 2,091 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Global Water Resources by 4.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider's stock worth $404,000 after acquiring an additional 2,133 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company's stock.
About Global Water Resources
(
Get Free Report)
Global Water Resources, Inc NASDAQ: GWRS is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.
The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.
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