Global Water Resources (NASDAQ:GWRS) Upgraded to Hold 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 research report sent to investors on Saturday.

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

Global Water Resources Stock Down 3.3%

Shares of NASDAQ GWRS opened at $8.60 on Friday. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17. The company has a market capitalization of $247.68 million, a PE ratio of 78.19 and a beta of 0.91. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s 50-day moving average is $7.23 and its two-hundred day moving average is $7.63.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.03%. The business had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million. Equities analysts anticipate that Global Water Resources will post 0.09 EPS for the current fiscal year.

Global Water Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0253 per share. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 17th. Global Water Resources’s dividend payout ratio (DPR) is currently 272.73%.

Insider Transactions at Global Water Resources

In other news, COO Christopher D. Krygier acquired 5,389 shares of Global Water Resources stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $6.87 per share, with a total value of $37,022.43. Following the completion of the purchase, the chief operating officer owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. This represents a 105.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Liebman bought 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the transaction, the chief financial officer owned 7,000 shares of the company’s stock, valued at $48,230. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 53.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GWRS. TSP Capital Management Group LLC grew its position in shares of Global Water Resources by 56.0% in the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock valued at $8,972,000 after purchasing an additional 424,438 shares during the period. Heartland Advisors Inc. lifted its position in Global Water Resources by 21.1% during the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock worth $6,308,000 after buying an additional 144,600 shares during the period. North Star Investment Management Corp. lifted its position in 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 buying an additional 111,000 shares during the period. Bridgeway Capital Management LLC purchased a new position in Global Water Resources during the fourth quarter worth about $84,000. Finally, Squarepoint Ops LLC acquired a new stake in Global Water Resources in the 4th quarter worth about $88,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.