TrueMark Investments LLC Buys Shares of 49,622 Consolidated Water Co. Ltd. $CWCO

TrueMark Investments LLC bought a new stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO) during the second quarter, Holdings Channel reports. The institutional investor bought 49,622 shares of the utilities provider’s stock, valued at approximately $1,490,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Consolidated Water in the second quarter valued at about $31,013,000. Invesco Ltd. grew its stake in Consolidated Water by 27.3% in the first 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 in the last quarter. Heartland Advisors Inc. grew its stake in Consolidated Water by 146.8% in the first quarter. Heartland Advisors Inc. now owns 270,100 shares of the utilities provider’s stock valued at $6,615,000 after purchasing an additional 160,657 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Consolidated Water by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 171,037 shares of the utilities provider’s stock valued at $4,189,000 after purchasing an additional 13,061 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new position in Consolidated Water in the first quarter valued at about $3,687,000. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Consolidated Water Stock Performance

CWCO opened at $36.24 on Friday. Consolidated Water Co. Ltd. has a 52-week low of $22.69 and a 52-week high of $36.52. The company has a market cap of $577.30 million, a PE ratio of 22.37 and a beta of 0.53. The stock has a 50-day moving average of $33.65 and a 200-day moving average of $29.39.

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

Consolidated Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Consolidated Water’s payout ratio is currently 34.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Roth Capital boosted their target price on Consolidated Water from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Weiss Ratings upgraded Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Consolidated Water from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.00.

Insider Buying and Selling at Consolidated Water

In related news, Director Raymond Whittaker sold 4,755 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $33.35, for a total transaction of $158,579.25. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $33,350. The trade was a 82.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.25% of the company’s stock.

Consolidated Water 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.