Consolidated Water (NASDAQ:CWCO) Hits New 1-Year High – Here’s Why

Consolidated Water Co. Ltd. (NASDAQ:CWCO)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $34.59 and last traded at $34.52, with a volume of 76067 shares traded. The stock had previously closed at $33.92.

Analysts Set New Price Targets

CWCO has been the subject of a number of recent research reports. Roth Capital raised their price target on shares of Consolidated Water from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of Consolidated Water from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Consolidated Water Stock Up 0.1%

The company has a market capitalization of $555.80 million, a PE ratio of 21.54 and a beta of 0.58. The firm has a 50-day moving average of $31.90 and a two-hundred day moving average of $28.41.

Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings data on Monday, August 11th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.20 by $0.12. The business had revenue of $33.59 million for the quarter, compared to analyst estimates of $32.75 million. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%. Equities analysts predict that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.6%. Consolidated Water’s payout ratio is presently 34.57%.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 4,755 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $33.35, for a total transaction of $158,579.25. Following the sale, the director directly owned 1,000 shares of the company’s stock, valued at $33,350. This represents a 82.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.25% of the company’s stock.

Hedge Funds Weigh In On Consolidated Water

A number of large investors have recently bought and sold shares of CWCO. Bank of America Corp DE grew its holdings in Consolidated Water by 15.1% in the fourth quarter. Bank of America Corp DE now owns 31,050 shares of the utilities provider’s stock valued at $804,000 after purchasing an additional 4,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Consolidated Water by 7.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,620 shares of the utilities provider’s stock worth $301,000 after acquiring an additional 764 shares in the last quarter. Millennium Management LLC acquired a new position in Consolidated Water during the fourth quarter worth $2,167,000. Man Group plc purchased a new position in Consolidated Water during the fourth quarter valued at $223,000. Finally, Comprehensive Money Management Services LLC acquired a new stake in shares of Consolidated Water in the fourth quarter valued at about $261,000. Institutional investors and hedge funds own 55.16% of the company’s stock.

Consolidated Water Company Profile

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.