Global Water Resources, Inc. Announces Monthly Dividend of $0.03 (NASDAQ:GWRS)

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, June 30th. Shareholders of record on Friday, July 17th will be given a dividend of 0.0253 per share by the utilities provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, July 17th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Global Water Resources has a payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.11 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 272.7%.

Global Water Resources Trading Down 0.1%

Shares of Global Water Resources stock opened at $7.24 on Wednesday. The company’s 50-day moving average price is $7.13 and its 200-day moving average price is $7.92. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17. The company has a market cap of $208.22 million, a price-to-earnings ratio of 103.43 and a beta of 0.92.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $13.29 million for the quarter, compared to analyst estimates of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. On average, equities analysts expect that Global Water Resources will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Global Water Resources

In related news, COO Christopher D. Krygier acquired 5,389 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $6.87 per share, with a total value of $37,022.43. Following the completion of the purchase, the chief operating officer owned 10,485 shares in the company, valued at $72,031.95. This trade represents a 105.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Liebman bought 7,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the acquisition, the chief financial officer directly owned 7,000 shares of the company’s stock, valued at approximately $48,230. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 53.70% of the company’s stock.

Institutional Investors Weigh In On Global Water Resources

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Global Water Resources by 75,025.0% during the third quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 3,001 shares during the period. Russell Investments Group Ltd. increased its holdings in Global Water Resources by 152.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,091 shares during the period. Tower Research Capital LLC TRC increased its holdings in Global Water Resources by 258.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,812 shares during the period. BNP Paribas Financial Markets raised its position in Global Water Resources by 120.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Global Water Resources in the 4th quarter worth approximately $84,000. Institutional investors own 27.91% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.