Perritt Capital Management Inc. lessened its stake in shares of Global Water Resources Inc (NASDAQ:GWRS) by 16.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 77,500 shares of the utilities provider’s stock after selling 15,000 shares during the period. Perritt Capital Management Inc.’s holdings in Global Water Resources were worth $809,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Global Water Resources in the 1st quarter worth $110,000. Spark Investment Management LLC raised its position in shares of Global Water Resources by 9.3% during the first quarter. Spark Investment Management LLC now owns 14,100 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 1,196 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Global Water Resources by 10.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,151 shares of the utilities provider’s stock valued at $305,000 after purchasing an additional 2,757 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Global Water Resources by 9.1% during the second quarter. Parametric Portfolio Associates LLC now owns 32,032 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 2,667 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Global Water Resources by 9.5% during the fourth quarter. Bank of America Corp DE now owns 35,075 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 3,050 shares during the last quarter. 29.68% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on GWRS. TheStreet raised Global Water Resources from a “c” rating to a “b-” rating in a research note on Thursday, August 8th. BidaskClub downgraded Global Water Resources from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research lowered shares of Global Water Resources from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.
Shares of GWRS stock traded up $0.52 during trading hours on Wednesday, reaching $12.60. 11,936 shares of the stock traded hands, compared to its average volume of 12,575. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 4.28. The firm has a market capitalization of $260.63 million, a PE ratio of 84.00, a PEG ratio of 5.36 and a beta of 0.05. Global Water Resources Inc has a 1-year low of $9.00 and a 1-year high of $13.33. The business has a fifty day moving average price of $11.92 and a 200 day moving average price of $10.45.
Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Global Water Resources had a net margin of 5.73% and a return on equity of 7.03%. The firm had revenue of $9.12 million during the quarter, compared to analyst estimates of $9.30 million. Research analysts expect that Global Water Resources Inc will post 0.15 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.0239 per share. This represents a yield of 2.4%. The ex-dividend date is Friday, September 13th. Global Water Resources’s dividend payout ratio (DPR) is currently 193.33%.
Global Water Resources Profile
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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