JPMorgan Chase & Co. Sells 52,288 Shares of Consolidated Water Co. Ltd. $CWCO

JPMorgan Chase & Co. reduced its position in Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 8.2% during the third quarter, Holdings Channel reports. The institutional investor owned 585,090 shares of the utilities provider’s stock after selling 52,288 shares during the quarter. JPMorgan Chase & Co.’s holdings in Consolidated Water were worth $20,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Journey Strategic Wealth LLC raised its stake in shares of Consolidated Water by 3.1% during the 3rd quarter. Journey Strategic Wealth LLC now owns 9,515 shares of the utilities provider’s stock worth $336,000 after acquiring an additional 289 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Consolidated Water by 0.3% in the second quarter. New York State Common Retirement Fund now owns 142,263 shares of the utilities provider’s stock valued at $4,271,000 after acquiring an additional 380 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Consolidated Water by 3.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 17,121 shares of the utilities provider’s stock valued at $604,000 after acquiring an additional 571 shares in the last quarter. State of Wyoming grew its holdings in Consolidated Water by 6.0% in the second quarter. State of Wyoming now owns 11,243 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 632 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Consolidated Water by 3.1% during the second quarter. Rhumbline Advisers now owns 22,088 shares of the utilities provider’s stock worth $663,000 after purchasing an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Consolidated Water Stock Up 0.2%

CWCO stock opened at $32.46 on Wednesday. The firm has a 50 day moving average of $36.28 and a 200 day moving average of $35.34. The stock has a market capitalization of $518.06 million, a PE ratio of 33.46 and a beta of 0.50. Consolidated Water Co. Ltd. has a 52 week low of $22.69 and a 52 week high of $39.12.

Consolidated Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.7%. Consolidated Water’s dividend payout ratio (DPR) is currently 57.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CWCO shares. Weiss Ratings lowered Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 17th. Wall Street Zen downgraded Consolidated Water from a “strong-buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Consolidated Water presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Activity at Consolidated Water

In other news, Director Maria Elena Giner bought 3,310 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of $30.24 per share, with a total value of $100,094.40. Following the transaction, the director directly owned 3,310 shares in the company, valued at approximately $100,094.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.25% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.