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

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 company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $33.35, for a total value of $158,579.25. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at $33,350. This trade represents a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Consolidated Water Stock Down 1.0%

Shares of NASDAQ:CWCO traded down $0.33 during trading on Friday, hitting $33.27. 71,079 shares of the company traded hands, compared to its average volume of 107,556. The stock has a market capitalization of $529.89 million, a price-to-earnings ratio of 20.54 and a beta of 0.53. The business's fifty day moving average is $30.69 and its 200-day moving average is $27.62. Consolidated Water Co. Ltd. has a one year low of $22.69 and a one year high of $34.26.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.12. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%.The business had revenue of $33.59 million during the quarter, compared to analyst estimates of $32.75 million. On average, analysts forecast that Consolidated Water Co. Ltd. will post 1.27 EPS for the current year.

Consolidated Water Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Consolidated Water's dividend payout ratio (DPR) is presently 34.57%.

Analyst Ratings Changes

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

Institutional Trading of Consolidated Water

Hedge funds have recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Consolidated Water in the second quarter valued at $30,000. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 1,165 shares in the last quarter. CWM LLC lifted its holdings 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 purchasing an additional 1,294 shares in the last quarter. Byrne Asset Management LLC lifted its holdings 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 purchasing an additional 595 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Consolidated Water in the first quarter valued at $60,000. Hedge funds and other institutional investors own 55.16% of the company's stock.

About Consolidated Water

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.