Consolidated Water (NASDAQ:CWCO) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Consolidated Water Co. Ltd. (NASDAQ:CWCO)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $30.37 and traded as high as $31.00. Consolidated Water shares last traded at $30.25, with a volume of 98,738 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CWCO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Consolidated Water in a report on Friday, October 2nd. Zacks Research raised shares of Consolidated Water from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Consolidated Water has a consensus rating of “Hold”.

Consolidated Water Stock Up 0.8%

The company has a market capitalization of $489.59 million, a PE ratio of 36.84 and a beta of 0.51. The firm has a 50-day moving average of $29.37 and a two-hundred day moving average of $30.37.

Consolidated Water (NASDAQ:CWCO) last issued its quarterly earnings results on Monday, August 10th. The utilities provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. Consolidated Water had a return on equity of 7.23% and a net margin of 12.66%.The firm had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $30.60 million. Equities analysts predict that Consolidated Water Co. Ltd. will post 0.95 EPS for the current fiscal year.

Consolidated Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.8%. Consolidated Water’s payout ratio is currently 67.47%.

Insider Buying and Selling at Consolidated Water

In related news, Director Raymond Whittaker sold 1,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $28.93, for a total transaction of $28,930.00. Following the completion of the sale, the director directly owned 2,038 shares of the company’s stock, valued at $58,959.34. This trade represents a 32.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.81% of the company’s stock.

Institutional Trading of Consolidated Water

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Consolidated Water by 2,844.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,443 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 1,394 shares during the last quarter. Lazard Asset Management LLC lifted its position in Consolidated Water by 11.1% during the 1st quarter. Lazard Asset Management LLC now owns 14,678 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 1,470 shares in the last quarter. State of Wyoming boosted its holdings in Consolidated Water by 33.6% in the 1st quarter. State of Wyoming now owns 7,569 shares of the utilities provider’s stock worth $251,000 after acquiring an additional 1,905 shares during the period. Strs Ohio grew its position in Consolidated Water by 12.4% in the first quarter. Strs Ohio now owns 19,100 shares of the utilities provider’s stock valued at $633,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Consolidated Water in the first quarter valued at approximately $91,000. Institutional investors and hedge funds own 55.16% of the company’s stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd. develops, designs, constructs, owns and operates seawater desalination plants and water-treatment facilities. The company produces potable water from seawater and other sources for municipal and commercial customers, and also provides engineering, procurement and construction services for water and wastewater infrastructure.

Founded in 1973 and headquartered in George Town, Grand Cayman, Consolidated Water has primarily served water-scarce communities in the Caribbean.