Global Water Resources (NASDAQ:GWRS) Issues Quarterly Earnings Results

Global Water Resources (NASDAQ:GWRS) issued its earnings results on Wednesday. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, FiscalAI reports. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. The company had revenue of $17.77 million for the quarter, compared to analyst estimates of $14.93 million.

Global Water Resources Trading Down 4.3%

GWRS stock traded down $0.39 during mid-day trading on Friday, reaching $8.51. The company’s stock had a trading volume of 58,702 shares, compared to its average volume of 93,899. The company has a market cap of $244.94 million, a price-to-earnings ratio of 121.51 and a beta of 0.91. The business’s 50 day moving average price is $7.20 and its 200 day moving average price is $7.63. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. Global Water Resources has a 12 month low of $6.55 and a 12 month high of $11.17.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.0253 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a yield of 3.6%. Global Water Resources’s dividend payout ratio (DPR) is currently 428.57%.

Insiders Place Their Bets

In related news, CFO Michael J. Liebman purchased 7,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $6.89 per share, with a total value of $48,230.00. Following the transaction, the chief financial officer owned 7,000 shares of the company’s stock, valued at $48,230. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher D. Krygier purchased 5,389 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the transaction, the chief operating officer directly owned 10,485 shares of the company’s stock, valued at $72,031.95. This represents a 105.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 53.70% of the company’s stock.

Institutional Trading of Global Water Resources

A number of large investors have recently added to or reduced their stakes in GWRS. Heartland Advisors Inc. raised its position in shares of Global Water Resources by 52.6% in the fourth quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock worth $5,801,000 after buying an additional 236,500 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Global Water Resources during the 4th quarter valued at $609,000. Rothschild Wealth LLC purchased a new stake in shares of Global Water Resources during the 4th quarter valued at $296,000. Geode Capital Management LLC lifted its holdings in shares of Global Water Resources by 10.3% during the 2nd quarter. Geode Capital Management LLC now owns 299,330 shares of the utilities provider’s stock worth $3,050,000 after acquiring an additional 27,850 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in Global Water Resources in the third quarter worth $262,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GWRS. Wall Street Zen raised Global Water Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Global Water Resources has an average rating of “Reduce” and a consensus target price of $15.00.

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.