Raymond Whittaker Sells 4,755 Shares of Consolidated Water (NASDAQ:CWCO) Stock

Key Points

• Raymond Whittaker, a director of Consolidated Water Co., sold 4,755 shares of the company's stock for a total of approximately $158,579, reducing his ownership by 82.62%.
• Consolidated Water reported earnings per share of $0.32 in its latest quarterly earnings, exceeding estimates of $0.20, and had a net margin of 12.24%.
• The company recently increased its quarterly dividend to $0.14 from $0.11, resulting in an annualized dividend yield of 1.7%.

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) Director Raymond Whittaker sold 4,755 shares of the stock in a transaction that occurred 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 sale, the director owned 1,000 shares in the company, valued at approximately $33,350. This trade represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Consolidated Water Price Performance

Shares of CWCO traded down $0.44 during midday trading on Monday, reaching $33.12. The stock had a trading volume of 62,280 shares, compared to its average volume of 125,675. Consolidated Water Co. Ltd. has a 1-year low of $22.69 and a 1-year high of $34.26. The company's fifty day simple moving average is $30.26 and its two-hundred day simple moving average is $27.39. The company has a market cap of $527.60 million, a price-to-earnings ratio of 20.44 and a beta of 0.53.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.24% and a return on equity of 7.77%. The business had revenue of $33.59 million for the quarter, compared to analyst estimates of $32.75 million. On average, sell-side analysts forecast that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 1st were given a $0.14 dividend. This is a positive change from Consolidated Water's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.7%. Consolidated Water's payout ratio is 34.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CWCO. Wall Street Zen raised shares of Consolidated Water from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Roth Capital raised their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Consolidated Water has a consensus rating of "Buy" and a consensus target price of $40.00.

Institutional Trading of Consolidated Water

Several hedge funds and other institutional investors have recently made changes to their positions in CWCO. Oliver Lagore Vanvalin Investment Group acquired a new position in Consolidated Water during the second quarter worth about $30,000. Tower Research Capital LLC TRC raised its position in shares of Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider's stock valued at $45,000 after buying an additional 1,165 shares during the last quarter. CWM LLC raised its position in shares of Consolidated Water by 228.6% in the first quarter. CWM LLC now owns 1,860 shares of the utilities provider's stock valued at $46,000 after buying an additional 1,294 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Consolidated Water by 35.9% in the second quarter. Byrne Asset Management LLC now owns 2,254 shares of the utilities provider's stock valued at $68,000 after buying an additional 595 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Consolidated Water in the first quarter valued at approximately $60,000. Institutional investors and hedge funds own 55.16% of the company's stock.

Consolidated Water Company Profile

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.