Global Water Resources Inc. (GWRS) Raised to Hold at 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 report 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 reiterated a “buy” rating and issued a $10.50 target price on shares of Global Water Resources in a research note on Monday, August 15th.
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Global Water Resources (NASDAQ:GWRS) traded down 0.13% on Wednesday, reaching $7.78. The company’s stock had a trading volume of 12,092 shares. Global Water Resources has a 52 week low of $6.23 and a 52 week high of $9.18. The stock’s 50 day moving average is $7.91 and its 200-day moving average is $7.86. The firm has a market capitalization of $149.16 million and a PE ratio of 8.00.
Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.21.
The company also recently announced a monthly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a $0.022 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, October 13th.
In related news, Director William S. Levine acquired 10,917 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average price of $7.82 per share, for a total transaction of $85,370.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William S. Levine acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was bought at an average price of $7.93 per share, with a total value of $79,300.00. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of GWRS. Schwab Charles Investment Management Inc. bought a new position in Global Water Resources during the second quarter valued at $132,000. Connors Investor Services Inc. acquired a new stake in shares of Global Water Resources during the second quarter valued at approximately $220,000. Spark Investment Management LLC acquired a new stake in shares of Global Water Resources during the second quarter valued at approximately $231,000. Royal Bank of Canada acquired a new stake in shares of Global Water Resources during the second quarter valued at approximately $244,000. Finally, WFG Advisors LP acquired a new stake in shares of Global Water Resources during the second quarter valued at approximately $325,000. Hedge funds and other institutional investors own 14.52% of the company’s stock.
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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