Consolidated Water (NASDAQ:CWCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Consolidated Water (NASDAQ:CWCO) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other analysts also recently issued reports on the stock. Weiss Ratings raised shares of Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Roth Capital increased their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.00.

Consolidated Water Stock Up 1.8%

Shares of NASDAQ:CWCO opened at $34.23 on Friday. Consolidated Water has a 52-week low of $22.69 and a 52-week high of $35.48. The company has a 50 day moving average of $33.10 and a two-hundred day moving average of $29.10. The company has a market capitalization of $545.28 million, a price-to-earnings ratio of 21.13 and a beta of 0.53.

Consolidated Water (NASDAQ:CWCO) last issued its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.12. Consolidated Water had a net margin of 12.24% and a return on equity of 7.77%. The company had revenue of $33.59 million during the quarter, compared to the consensus estimate of $32.75 million. On average, equities analysts anticipate that Consolidated Water will post 1.27 earnings per share for the current year.

Consolidated Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.6%. Consolidated Water’s dividend payout ratio (DPR) is presently 34.57%.

Insider Transactions at Consolidated Water

In related news, Director Raymond Whittaker sold 4,755 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 1,000 shares in the company, valued at $33,350. This trade represents a 82.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Consolidated Water

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Consolidated Water by 2,247.9% during the first quarter. GAMMA Investing LLC now owns 2,841 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 2,720 shares during the period. Illumine Investment Management LLC increased its holdings in shares of Consolidated Water by 39.4% during the first quarter. Illumine Investment Management LLC now owns 23,464 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 6,633 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Consolidated Water by 4.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 59,576 shares of the utilities provider’s stock valued at $1,459,000 after purchasing an additional 2,323 shares during the period. CWM LLC increased its holdings in shares of Consolidated Water by 228.6% during 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 during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Consolidated Water during the first quarter valued at $273,000. 55.16% of the stock is currently owned by institutional investors.

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.