BlackRock Inc. grew its holdings in shares of Global Water Resources Inc (NASDAQ:GWRS) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,313 shares of the utilities provider’s stock after buying an additional 30,230 shares during the period. BlackRock Inc. owned 2.24% of Global Water Resources worth $4,514,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GWRS. Handelsbanken Fonder AB raised its holdings in shares of Global Water Resources by 2.0% during the second quarter. Handelsbanken Fonder AB now owns 362,648 shares of the utilities provider’s stock valued at $3,409,000 after buying an additional 7,265 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Global Water Resources by 4.3% during the second quarter. North Star Investment Management Corp. now owns 156,065 shares of the utilities provider’s stock valued at $1,467,000 after buying an additional 6,500 shares during the last quarter. Lyell Wealth Management LP bought a new stake in shares of Global Water Resources during the second quarter valued at approximately $101,000. Finally, Cumberland Partners Ltd bought a new stake in shares of Global Water Resources during the second quarter valued at approximately $2,149,000. 22.86% of the stock is currently owned by institutional investors.
In other news, Director Debra Coy bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were purchased at an average price of $9.77 per share, with a total value of $29,310.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have purchased 7,430 shares of company stock worth $73,830. 50.00% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. TheStreet raised Global Water Resources from a “c-” rating to a “b-” rating in a report on Thursday, August 9th. Zacks Investment Research cut Global Water Resources from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, ValuEngine raised Global Water Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 27th.
Shares of NASDAQ:GWRS opened at $10.86 on Friday. Global Water Resources Inc has a 12 month low of $8.40 and a 12 month high of $11.61. The company has a market cap of $237.90 million, a P/E ratio of 90.50, a PEG ratio of 3.89 and a beta of -0.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 7.35.
Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Thursday, November 8th. The utilities provider reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Global Water Resources had a return on equity of 28.97% and a net margin of 18.86%. The firm had revenue of $9.00 million for the quarter, compared to the consensus estimate of $8.90 million. As a group, analysts anticipate that Global Water Resources Inc will post 0.19 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a dividend of $0.0239 per share. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. The ex-dividend date is Thursday, December 13th. This represents a $0.29 annualized dividend and a yield of 2.64%. Global Water Resources’s payout ratio is presently 233.33%.
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Global Water Resources Profile
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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