Global Water Resources (NASDAQ:GWRS) Director Andrew Cohn Acquires 154,026 Shares

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew Cohn acquired 154,026 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was acquired at an average price of $10.30 per share, for a total transaction of $1,586,467.80. Following the completion of the acquisition, the director directly owned 2,540,908 shares of the company’s stock, valued at $26,171,352.40. The trade was a 6.45% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Global Water Resources Trading Up 5.2%

GWRS opened at $10.75 on Wednesday. Global Water Resources, Inc. has a one year low of $9.27 and a one year high of $13.98. The stock has a market capitalization of $295.30 million, a PE ratio of 48.87 and a beta of 1.06. The business’s 50 day moving average price is $9.87 and its 200 day moving average price is $10.14. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.09 and a current ratio of 1.09.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, August 13th. The utilities provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.The firm had revenue of $14.24 million for the quarter, compared to analysts’ expectations of $14.20 million. As a group, equities research analysts expect that Global Water Resources, Inc. will post 0.28 EPS for the current year.

Global Water Resources Dividend Announcement

The company also recently declared a oct 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $0.0253 per share. This represents a yield of 295.0%. The ex-dividend date is Friday, October 17th. Global Water Resources’s dividend payout ratio is 136.36%.

Wall Street Analyst Weigh In

GWRS has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Global Water Resources in a research note on Saturday, September 27th. Wall Street Zen cut Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Water Resources presently has an average rating of “Hold”.

Institutional Trading of Global Water Resources

A number of large investors have recently modified their holdings of GWRS. Bank of America Corp DE increased its position in shares of Global Water Resources by 61.8% during the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 9,370 shares during the period. Millennium Management LLC increased its position in shares of Global Water Resources by 87.8% during the fourth quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 12,654 shares during the period. Rhumbline Advisers increased its position in shares of Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 1,884 shares during the period. Wesbanco Bank Inc. increased its position in shares of Global Water Resources by 98.4% during the first quarter. Wesbanco Bank Inc. now owns 61,500 shares of the utilities provider’s stock worth $634,000 after acquiring an additional 30,500 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Global Water Resources by 11.3% in the first quarter. Handelsbanken Fonder AB now owns 1,525,000 shares of the utilities provider’s stock valued at $15,723,000 after buying an additional 155,000 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.