Zacks Investment Research downgraded shares of Consolidated Water (NASDAQ:CWCO) from a hold rating to a sell rating in a report published on Monday morning.

According to Zacks, “Consolidated Water carries risk of failure to renew long term contracts with major customers as well as negative foreign exchange fluctuation hurting performance. Fluctuation in weather conditions and risk of water contamination are other headwinds. Loss in Consolidated Water’s shares were narrower compared with the industry‘s loss in the last month. Consolidated Water is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, The Bahamas and Belize.”

A number of other brokerages also recently issued reports on CWCO. TheStreet upgraded shares of Consolidated Water from a c+ rating to a b- rating in a report on Friday, November 24th. Roth Capital set a $15.00 price target on shares of Consolidated Water and gave the stock a buy rating in a report on Monday, November 13th.

Shares of Consolidated Water (CWCO) opened at $12.30 on Monday. The stock has a market cap of $187.02, a P/E ratio of 22.82, a PEG ratio of 2.47 and a beta of 0.75. Consolidated Water has a 1-year low of $10.10 and a 1-year high of $13.95.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd were issued a dividend of $0.085 per share. The ex-dividend date was Tuesday, January 2nd. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from Consolidated Water’s previous quarterly dividend of $0.08. Consolidated Water’s dividend payout ratio (DPR) is currently 82.93%.

Large investors have recently bought and sold shares of the stock. NJ State Employees Deferred Compensation Plan boosted its position in shares of Consolidated Water by 125.0% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 90,000 shares of the utilities provider’s stock worth $1,152,000 after purchasing an additional 50,000 shares during the period. Nationwide Fund Advisors boosted its position in shares of Consolidated Water by 27.1% during the 2nd quarter. Nationwide Fund Advisors now owns 52,486 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 11,200 shares during the period. First Manhattan Co. boosted its position in shares of Consolidated Water by 7.0% during the 4th quarter. First Manhattan Co. now owns 804,513 shares of the utilities provider’s stock worth $10,136,000 after purchasing an additional 52,600 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Consolidated Water by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 278,936 shares of the utilities provider’s stock worth $3,568,000 after purchasing an additional 18,938 shares during the period. Finally, Icon Advisers Inc. Co. boosted its position in shares of Consolidated Water by 39.1% during the 3rd quarter. Icon Advisers Inc. Co. now owns 182,342 shares of the utilities provider’s stock worth $2,334,000 after purchasing an additional 51,300 shares during the period. 49.43% of the stock is owned by hedge funds and other institutional investors.

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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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