Global Water Resources Inc. (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “
Separately, Roth Capital restated a “buy” rating on shares of Global Water Resources in a report on Saturday, July 9th.
Global Water Resources (NASDAQ:GWRS) traded down 0.13% during midday trading on Wednesday, hitting $7.78. 12,092 shares of the stock were exchanged. The firm has a market capitalization of $149.16 million and a price-to-earnings ratio of 8.00. Global Water Resources has a one year low of $6.23 and a one year high of $9.18. The company has a 50 day moving average price of $7.91 and a 200 day moving average price of $7.86.
Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.21.
The business also recently announced a monthly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be issued a dividend of $0.022 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.26 annualized dividend and a yield of 3.39%.
In related news, Director William S. Levine bought 10,917 shares of the company’s stock in a transaction on Friday, September 30th. The shares were purchased at an average cost of $7.82 per share, for a total transaction of $85,370.94. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William S. Levine bought 10,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were bought at an average price of $7.93 per share, for a total transaction of $79,300.00. The disclosure for this purchase can be found here.
A number of hedge funds have recently made changes to their positions in GWRS. Schwab Charles Investment Management Inc. bought a new stake in shares of Global Water Resources during the second quarter valued at approximately $132,000. Connors Investor Services Inc. acquired a new stake in Global Water Resources during the second quarter worth about $220,000. Spark Investment Management LLC acquired a new stake in Global Water Resources during the second quarter worth about $231,000. Royal Bank of Canada acquired a new stake in Global Water Resources during the second quarter worth about $244,000. Finally, WFG Advisors LP acquired a new stake in Global Water Resources during the second quarter worth about $325,000. Hedge funds and other institutional investors own 14.52% of the company’s stock.
About Global Water Resources
Global Water Resources, Inc is a water resource management company that provides water, wastewater and recycled water utility services. The Company owns and operates 16 water and wastewater utilities in strategically targeted communities in metropolitan Phoenix, Arizona. It serves more than 60,000 people in approximately 23,000 homes within its 378 square miles of service areas; 206 square miles have been certificated and are serviced by seven regulated operating subsidiaries.
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