Consolidated Water (NASDAQ:CWCO) CEO Frederick Mctaggart Sells 1,848 Shares of Stock

Consolidated Water Co. Ltd. (NASDAQ:CWCO) CEO Frederick Mctaggart sold 1,848 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $35.76, for a total transaction of $66,084.48. Following the completion of the sale, the chief executive officer directly owned 287,310 shares of the company’s stock, valued at $10,274,205.60. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Consolidated Water Stock Down 0.2%

Shares of CWCO traded down $0.09 during trading hours on Thursday, hitting $33.93. The company had a trading volume of 6,812 shares, compared to its average volume of 117,787. Consolidated Water Co. Ltd. has a 52-week low of $22.69 and a 52-week high of $38.36. The stock’s 50 day moving average price is $34.69 and its 200 day moving average price is $31.25. The firm has a market cap of $540.46 million, a P/E ratio of 34.98 and a beta of 0.51.

Consolidated Water (NASDAQ:CWCO) last posted its quarterly earnings results on Monday, November 10th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.10. Consolidated Water had a return on equity of 7.77% and a net margin of 12.24%.The business had revenue of $35.12 million for the quarter, compared to analyst estimates of $32.90 million. On average, research analysts expect that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CWCO. Wall Street Zen raised shares of Consolidated Water from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings upgraded shares of Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Roth Capital increased their price objective on shares of Consolidated Water from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Hedge Funds Weigh In On Consolidated Water

A number of hedge funds have recently made changes to their positions in CWCO. Kingstone Capital Partners Texas LLC bought a new stake in Consolidated Water in the 2nd quarter valued at $31,013,000. Heartland Advisors Inc. lifted its position in Consolidated Water by 146.8% during 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 during the last quarter. Seizert Capital Partners LLC bought a new position in shares of Consolidated Water in the 1st quarter valued at about $3,687,000. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Water by 18.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 637,378 shares of the utilities provider’s stock worth $19,134,000 after purchasing an additional 101,434 shares during the period. Finally, Invesco Ltd. increased its position in Consolidated Water by 27.3% during the first quarter. Invesco Ltd. now owns 306,288 shares of the utilities provider’s stock valued at $7,501,000 after acquiring an additional 65,744 shares during the last quarter. Institutional investors own 55.16% of the company’s stock.

About Consolidated Water

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.