Global Water Resources (NASDAQ:GWRS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Water Resources (NASDAQ:GWRS) from a sell rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Water Resources in a report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $15.00.

Global Water Resources Stock Performance

Shares of GWRS opened at $8.88 on Friday. The firm has a 50-day moving average of $7.27 and a 200-day moving average of $7.63. Global Water Resources has a one year low of $6.55 and a one year high of $11.17. The company has a market cap of $255.70 million, a PE ratio of 80.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.68.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. As a group, equities analysts forecast that Global Water Resources will post 0.09 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 Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.0253 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 17th. Global Water Resources’s payout ratio is 272.73%.

Insider Buying and Selling at Global Water Resources

In related news, COO Christopher D. Krygier bought 5,389 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the purchase, the chief operating officer owned 10,485 shares in the company, valued at $72,031.95. This represents a 105.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael J. Liebman bought 7,000 shares of Global Water Resources stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average cost of $6.89 per share, with a total value of $48,230.00. Following the acquisition, the chief financial officer directly owned 7,000 shares in the company, valued at $48,230. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. 53.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. TSP Capital Management Group LLC raised its holdings in Global Water Resources by 56.0% in the 1st quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock valued at $8,972,000 after acquiring an additional 424,438 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Global Water Resources by 52.6% during the fourth quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock worth $5,801,000 after acquiring an additional 236,500 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Global Water Resources by 36.5% during the first quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock worth $3,153,000 after acquiring an additional 111,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Global Water Resources in the fourth quarter valued at approximately $609,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Global Water Resources during the second quarter worth approximately $253,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Company Profile

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.