Consolidated Water Co. Ltd. (NASDAQ:CWCO) to Issue Quarterly Dividend of $0.14

Consolidated Water Co. Ltd. (NASDAQ:CWCO) announced a quarterly dividend on Monday, June 2nd, RTT News reports. Investors of record on Tuesday, July 1st will be given a dividend of 0.14 per share by the utilities provider on Thursday, July 31st. This represents a $0.56 annualized dividend and a yield of 2.05%. This is a 27.3% increase from Consolidated Water’s previous quarterly dividend of $0.11.

Consolidated Water has increased its dividend by an average of 6.4% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Consolidated Water has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Water to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 31.4%.

Consolidated Water Stock Up 0.9%

Shares of CWCO stock traded up $0.23 during trading on Monday, reaching $27.26. The company’s stock had a trading volume of 8,855 shares, compared to its average volume of 109,392. The business has a fifty day moving average price of $24.56 and a 200-day moving average price of $25.81. The company has a market cap of $433.90 million, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.44 and a beta of 0.39. Consolidated Water has a one year low of $22.69 and a one year high of $29.88.

Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $33.72 million for the quarter, compared to analyst estimates of $32.30 million. Consolidated Water had a return on equity of 12.98% and a net margin of 23.06%. Research analysts anticipate that Consolidated Water will post 1.27 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Consolidated Water from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Hedge Funds Weigh In On Consolidated Water

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Consolidated Water by 41.7% in the first quarter. AQR Capital Management LLC now owns 46,480 shares of the utilities provider’s stock valued at $1,138,000 after buying an additional 13,686 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Consolidated Water by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 171,037 shares of the utilities provider’s stock valued at $4,189,000 after acquiring an additional 13,061 shares in the last quarter. Jane Street Group LLC bought a new position in Consolidated Water in the 1st quarter valued at about $230,000. Strs Ohio bought a new position in Consolidated Water in the 1st quarter valued at about $130,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Consolidated Water by 6.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,418 shares of the utilities provider’s stock valued at $304,000 after acquiring an additional 798 shares in the last quarter. Institutional investors 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.