Global Water Resources, Inc. (GWRS) Upgraded to Hold by Zacks Investment Research
Global Water Resources, Inc. (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “
Separately, Roth Capital reissued a “buy” rating and issued a $10.50 price objective on shares of Global Water Resources in a research note on Monday, August 15th.
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Global Water Resources (NASDAQ:GWRS) remained flat at $8.02 during trading on Wednesday. The company had a trading volume of 10,148 shares. Global Water Resources has a 12 month low of $6.23 and a 12 month high of $9.18. The stock’s 50 day moving average is $7.98 and its 200 day moving average is $7.86. The firm has a market capitalization of $153.76 million and a PE ratio of 8.25.
Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.21.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.022 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.29%.
In other Global Water Resources news, Director William S. Levine acquired 10,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was acquired at an average cost of $7.93 per share, with a total value of $79,300.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in Global Water Resources during the second quarter worth approximately $244,000. Schwab Charles Investment Management Inc. purchased a new position in Global Water Resources during the second quarter worth approximately $132,000. Diker Management LLC purchased a new position in Global Water Resources during the second quarter worth approximately $416,000. State Street Corp purchased a new position in Global Water Resources during the second quarter worth approximately $456,000. Finally, Spark Investment Management LLC purchased a new position in Global Water Resources during the second quarter worth approximately $231,000.
Global Water Resources Company Profile
Global Water Resources, Inc is a water resource management company that provides water, wastewater and recycled water utility services. The Company owns and operates 16 water and wastewater utilities in strategically targeted communities in metropolitan Phoenix, Arizona. It serves more than 60,000 people in approximately 23,000 homes within its 378 square miles of service areas; 206 square miles have been certificated and are serviced by seven regulated operating subsidiaries.
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