Granite Investment Partners LLC bought a new stake in Global Water Resources Inc (NASDAQ:GWRS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 41,090 shares of the utilities provider’s stock, valued at approximately $417,000.
Other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in shares of Global Water Resources by 93.4% in the 4th quarter. New York State Common Retirement Fund now owns 5,799 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 2,800 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Global Water Resources in the 4th quarter valued at $135,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Global Water Resources in the 4th quarter valued at $446,000. Penn Capital Management Co. Inc. acquired a new stake in shares of Global Water Resources in the 3rd quarter valued at $652,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Global Water Resources in the 3rd quarter valued at $900,000. 29.23% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ GWRS opened at $9.51 on Thursday. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.81 and a current ratio of 1.81. Global Water Resources Inc has a twelve month low of $8.63 and a twelve month high of $11.61. The firm has a market cap of $203.98 million, a P/E ratio of 63.40, a PEG ratio of 4.87 and a beta of -0.23.
The company also recently disclosed a monthly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.0239 per share. This represents a $0.29 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, March 14th. Global Water Resources’s dividend payout ratio (DPR) is 193.33%.
Separately, Zacks Investment Research downgraded Global Water Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th.
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About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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