Principal Financial Group Inc. Acquires New Holdings in Consolidated Water Co. Ltd. $CWCO

Principal Financial Group Inc. purchased a new position in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,897 shares of the utilities provider’s stock, valued at approximately $1,690,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 1,165 shares during the period. CWM LLC lifted its holdings in shares of Consolidated Water by 67.5% during the 3rd quarter. CWM LLC now owns 2,045 shares of the utilities provider’s stock valued at $72,000 after purchasing an additional 824 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Consolidated Water in the 3rd quarter valued at approximately $80,000. Quantbot Technologies LP acquired a new position in shares of Consolidated Water in the 2nd quarter valued at approximately $112,000. Finally, Strs Ohio bought a new stake in Consolidated Water during the 1st quarter worth approximately $130,000. 55.16% of the stock is currently owned by institutional investors.

Consolidated Water Stock Performance

CWCO opened at $37.13 on Wednesday. The business’s 50-day simple moving average is $36.52 and its 200 day simple moving average is $34.77. Consolidated Water Co. Ltd. has a 52-week low of $22.69 and a 52-week high of $39.12. The firm has a market capitalization of $591.48 million, a PE ratio of 38.28 and a beta of 0.49.

Analysts Set New Price Targets

CWCO has been the topic of a number of research reports. Wall Street Zen raised shares of Consolidated Water from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Water in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.00.

Insider Activity

In related news, Director Wilmer F. Pergande sold 4,299 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.75, for a total transaction of $145,091.25. Following the transaction, the director directly owned 31,884 shares in the company, valued at approximately $1,076,085. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.25% of the stock is currently owned by corporate insiders.

Consolidated Water Company Profile

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.