Consolidated Water Co. (NASDAQ:CWCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Consolidated Water Co. Ltd. intends to develop and operate seawater conversion plants and water distribution systems in areas of the world where naturally-occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The company has signed contracts for its first overseas operations in the Commonwealth of the Bahamas. (PRESS RELEASE) “

Consolidated Water (NASDAQ:CWCO) opened at 11.98 on Tuesday. The stock has a 50 day moving average of $12.56 and a 200-day moving average of $12.90. The company has a market cap of $177.48 million, a price-to-earnings ratio of 23.22 and a beta of 0.85. Consolidated Water has a 52-week low of $10.23 and a 52-week high of $14.69.

Consolidated Water (NASDAQ:CWCO) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Consolidated Water had a net margin of 13.29% and a return on equity of 5.01%. On average, analysts forecast that Consolidated Water will post $0.60 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 3rd will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.30 annualized dividend and a dividend yield of 2.50%. Consolidated Water’s dividend payout ratio is presently 57.69%.

In other Consolidated Water news, Director Richard Finlay acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was acquired at an average cost of $12.73 per share, for a total transaction of $127,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.18% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Consolidated Water by 3.5% in the first quarter. Royal Bank of Canada now owns 8,281 shares of the company’s stock valued at $100,000 after buying an additional 281 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Consolidated Water by 4.1% in the second quarter. Vanguard Group Inc. now owns 24,370 shares of the company’s stock valued at $318,000 after buying an additional 949 shares in the last quarter. Teton Advisors Inc. raised its position in shares of Consolidated Water by 1.5% in the second quarter. Teton Advisors Inc. now owns 66,000 shares of the company’s stock valued at $862,000 after buying an additional 1,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Consolidated Water by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 107,033 shares of the company’s stock valued at $1,303,000 after buying an additional 1,290 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. raised its position in shares of Consolidated Water by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 420,772 shares of the company’s stock valued at $5,121,000 after buying an additional 1,404 shares in the last quarter. Institutional investors and hedge funds own 45.55% of the company’s stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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