119,368 Global Water Resources, Inc. $GWRS Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC lessened its stake in Global Water Resources, Inc. (NASDAQ:GWRS) by 36.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 209,818 shares of the utilities provider’s stock after selling 119,368 shares during the quarter. Redmond Asset Management LLC’s holdings in Global Water Resources were worth $1,668,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GWRS. TSP Capital Management Group LLC raised its stake in Global Water Resources by 9.8% during the third quarter. TSP Capital Management Group LLC now owns 1,471,701 shares of the utilities provider’s stock valued at $11,700,000 after buying an additional 131,396 shares in the last quarter. Cullen Capital Management LLC acquired a new position in shares of Global Water Resources in the 2nd quarter worth approximately $242,000. Bank of New York Mellon Corp acquired a new position in shares of Global Water Resources in the 2nd quarter worth approximately $253,000. Dynamic Advisor Solutions LLC grew its position in shares of Global Water Resources by 4.0% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider’s stock worth $404,000 after acquiring an additional 2,133 shares in the last quarter. Finally, Heartland Advisors Inc. grew its position in shares of Global Water Resources by 21.1% in the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock worth $6,308,000 after acquiring an additional 144,600 shares in the last quarter. Institutional investors own 27.91% of the company’s stock.

Insider Activity at Global Water Resources

In related news, Director Andrew Cohn purchased 139,343 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the transaction, the director owned 2,701,350 shares of the company’s stock, valued at $23,906,947.50. This trade represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 53.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Wall Street Zen upgraded Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.00.

Global Water Resources Trading Down 0.8%

NASDAQ GWRS opened at $7.77 on Thursday. Global Water Resources, Inc. has a one year low of $6.55 and a one year high of $10.50. The company has a 50-day simple moving average of $8.40 and a 200-day simple moving average of $7.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $223.78 million, a PE ratio of 70.64 and a beta of 0.95.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The business had revenue of $17.77 million during the quarter, compared to the consensus estimate of $14.93 million. On average, equities analysts forecast that Global Water Resources, Inc. will post 0.09 earnings per share for the current year.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.0253 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.30 annualized dividend and a dividend yield of 3.9%. Global Water Resources’s dividend payout ratio is 272.73%.

Global Water Resources Profile

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.