Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) Director Andrew M. Cohn purchased 252,000 shares of the stock in a transaction on Thursday, March 27th. The shares were purchased at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the transaction, the director now owns 2,379,899 shares of the company's stock, valued at $23,798,990. This trade represents a 11.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Global Water Resources Trading Down 1.7 %
GWRS stock traded down $0.17 during midday trading on Thursday, reaching $10.04. 44,394 shares of the company's stock traded hands, compared to its average volume of 27,028. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63. Global Water Resources, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $13.98. The business has a 50-day moving average price of $11.24 and a two-hundred day moving average price of $12.01. The company has a market capitalization of $271.34 million, a P/E ratio of 37.24, a PEG ratio of 2.53 and a beta of 1.01.
Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The business had revenue of $13.29 million for the quarter, compared to analyst estimates of $12.70 million. Equities research analysts forecast that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.
Global Water Resources Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be given a $0.0253 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Wednesday, April 16th. Global Water Resources's payout ratio is 125.00%.
Institutional Investors Weigh In On Global Water Resources
Several hedge funds have recently modified their holdings of the stock. Gitterman Wealth Management LLC purchased a new position in Global Water Resources in the 4th quarter worth approximately $123,000. Deutsche Bank AG increased its stake in Global Water Resources by 4,273.8% during the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock worth $173,000 after buying an additional 14,659 shares during the period. Ameriprise Financial Inc. lifted its holdings in Global Water Resources by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock worth $232,000 after buying an additional 1,327 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Global Water Resources by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider's stock valued at $264,000 after buying an additional 12,636 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider's stock valued at $282,000 after purchasing an additional 9,370 shares during the last quarter. 27.91% of the stock is currently owned by hedge funds and other institutional investors.
About Global Water Resources
(
Get Free Report)
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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