Consolidated Water (NASDAQ:CWCO) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Consolidated Water (NASDAQ:CWCO) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Consolidated Water Price Performance

CWCO stock opened at $26.26 on Thursday. The company’s 50-day simple moving average is $27.16 and its 200-day simple moving average is $30.91. Consolidated Water has a 52-week low of $16.94 and a 52-week high of $38.29.

Consolidated Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 28th.

Hedge Funds Weigh In On Consolidated Water

A number of institutional investors have recently added to or reduced their stakes in CWCO. SG Americas Securities LLC purchased a new stake in shares of Consolidated Water in the 3rd quarter valued at approximately $148,000. Commonwealth Equity Services LLC acquired a new stake in shares of Consolidated Water in the third quarter valued at $234,000. Raymond James & Associates purchased a new stake in shares of Consolidated Water in the 3rd quarter valued at $257,000. Bank of New York Mellon Corp lifted its stake in Consolidated Water by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,218 shares of the utilities provider’s stock worth $1,656,000 after acquiring an additional 2,157 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Consolidated Water by 15,117.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,913 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 7,861 shares during the period. Hedge funds and other institutional investors 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.