Heartland Advisors Inc. Acquires 144,600 Shares of Global Water Resources, Inc. $GWRS

Heartland Advisors Inc. raised its holdings in shares of Global Water Resources, Inc. (NASDAQ:GWRS) by 21.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 831,100 shares of the utilities provider’s stock after purchasing an additional 144,600 shares during the quarter. Heartland Advisors Inc.’s holdings in Global Water Resources were worth $6,308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GWRS. TSP Capital Management Group LLC lifted its stake in shares of Global Water Resources by 134.9% during the 4th quarter. TSP Capital Management Group LLC now owns 757,706 shares of the utilities provider’s stock worth $6,403,000 after buying an additional 435,129 shares during the last quarter. North Star Investment Management Corp. grew its stake in Global Water Resources by 36.5% in the 1st quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock valued at $3,153,000 after buying an additional 111,000 shares during the last quarter. Group One Trading LLC acquired a new position in Global Water Resources in the 4th quarter valued at about $96,000. Squarepoint Ops LLC bought a new position in Global Water Resources in the 4th quarter valued at about $88,000. Finally, Bridgeway Capital Management LLC bought a new position in Global Water Resources in the 4th quarter valued at about $84,000. 27.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Global Water Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $15.00.

Global Water Resources Stock Performance

NASDAQ GWRS opened at $7.07 on Monday. The firm’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $7.79. The firm has a market capitalization of $203.33 million, a price-to-earnings ratio of 101.00 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. Global Water Resources, Inc. has a 1 year low of $6.55 and a 1 year high of $11.17.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, May 13th. The utilities provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. The business had revenue of $13.29 million during the quarter, compared to the consensus estimate of $14.09 million. As a group, research analysts expect that Global Water Resources, Inc. will post 0.08 earnings per share for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a $0.0253 dividend. The ex-dividend date is Friday, July 17th. This represents a c) annualized dividend and a dividend yield of 4.3%. Global Water Resources’s dividend payout ratio (DPR) is presently 428.57%.

Insiders Place Their Bets

In other Global Water Resources news, COO Christopher D. Krygier purchased 5,389 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $6.87 per share, with a total value of $37,022.43. Following the acquisition, the chief operating officer owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. This represents a 105.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael J. Liebman acquired 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $6.89 per share, with a total value of $48,230.00. Following the completion of the transaction, the chief financial officer owned 7,000 shares in the company, valued at $48,230. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 53.70% of the stock is currently owned by insiders.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.