Global Water Resources (NASDAQ:GWRS) Releases Earnings Results

Global Water Resources (NASDAQ:GWRS) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01, FiscalAI reports. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. The company had revenue of $17.77 million for the quarter, compared to the consensus estimate of $14.93 million.

Global Water Resources Stock Performance

Shares of GWRS stock traded down $0.40 during trading hours on Friday, reaching $8.49. The stock had a trading volume of 38,335 shares, compared to its average volume of 93,813. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.68 and a quick ratio of 0.68. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17. The firm has a 50-day simple moving average of $7.20 and a 200-day simple moving average of $7.63. The firm has a market capitalization of $244.66 million, a PE ratio of 121.60 and a beta of 0.91.

Global Water Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.0253 per share. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 3.6%. Global Water Resources’s dividend payout ratio is currently 428.57%.

Insider Transactions at Global Water Resources

In other news, COO Christopher D. Krygier bought 5,389 shares of Global Water Resources stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $6.87 per share, with a total value of $37,022.43. Following the purchase, the chief operating officer directly owned 10,485 shares of the company’s stock, valued at approximately $72,031.95. This trade represents a 105.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael J. Liebman bought 7,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $6.89 per share, with a total value of $48,230.00. Following the transaction, the chief financial officer owned 7,000 shares in the company, valued at $48,230. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 53.70% of the company’s stock.

Institutional Trading of Global Water Resources

Several large investors have recently added to or reduced their stakes in GWRS. Allworth Financial LP boosted its position in Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 3,001 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,601 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Global Water Resources in the fourth quarter worth about $84,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.