Frederick Mctaggart Sells 1,848 Shares of Consolidated Water (NASDAQ:CWCO) Stock

Consolidated Water Co. Ltd. (NASDAQ:CWCO) CEO Frederick Mctaggart sold 1,848 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $35.76, for a total transaction of $66,084.48. Following the transaction, the chief executive officer directly owned 287,310 shares in the company, valued at $10,274,205.60. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Consolidated Water Stock Performance

Shares of NASDAQ CWCO traded down $0.29 during mid-day trading on Wednesday, reaching $34.01. The company had a trading volume of 60,287 shares, compared to its average volume of 118,292. The firm has a market cap of $541.81 million, a price-to-earnings ratio of 36.18 and a beta of 0.51. The business’s 50-day simple moving average is $34.69 and its 200 day simple moving average is $31.25. Consolidated Water Co. Ltd. has a one year low of $22.69 and a one year high of $38.36.

Consolidated Water (NASDAQ:CWCO) last released its earnings results on Monday, November 10th. The utilities provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.10. The firm had revenue of $35.12 million during the quarter, compared to analysts’ expectations of $32.90 million. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%. On average, sell-side analysts anticipate that Consolidated Water Co. Ltd. will post 1.27 EPS for the current year.

Analysts Set New Price Targets

CWCO has been the subject of several analyst reports. Roth Capital raised their price target on shares of Consolidated Water from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Wall Street Zen raised Consolidated Water from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings raised Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Consolidated Water has an average rating of “Buy” and a consensus target price of $40.00.

Institutional Trading of Consolidated Water

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new stake in Consolidated Water in the second quarter valued at approximately $31,013,000. Heartland Advisors Inc. raised its position in shares of Consolidated Water by 146.8% during the first quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider’s stock worth $6,615,000 after purchasing an additional 160,657 shares during the period. Seizert Capital Partners LLC bought a new position in shares of Consolidated Water in the 1st quarter worth $3,687,000. JPMorgan Chase & Co. lifted its holdings in shares of Consolidated Water by 18.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 637,378 shares of the utilities provider’s stock worth $19,134,000 after purchasing an additional 101,434 shares in the last quarter. Finally, Invesco Ltd. grew its position in Consolidated Water by 27.3% in the 1st quarter. Invesco Ltd. now owns 306,288 shares of the utilities provider’s stock valued at $7,501,000 after purchasing an additional 65,744 shares during the period. 55.16% of the stock is owned by institutional investors.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.