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

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Monday, August 31st. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.0253 per share by the utilities provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 16th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend 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. Research analysts expect Global Water Resources to earn $0.13 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 230.8%.

Global Water Resources Price Performance

Shares of GWRS stock opened at $9.19 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The firm has a market cap of $264.67 million, a P/E ratio of 83.55 and a beta of 0.91. The business’s 50 day moving average price is $7.69 and its 200-day moving average price is $7.65.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The business had revenue of $17.77 million for the quarter, compared to analysts’ expectations of $14.93 million. On average, equities research analysts anticipate that Global Water Resources will post 0.09 earnings per share for the current year.

Insider Activity

In other Global Water Resources news, Director Andrew M. Cohn purchased 139,343 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the transaction, the director directly owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. The trade was a 5.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 53.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Global Water Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of GWRS. Allworth Financial LP lifted 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 valued at $31,000 after purchasing an additional 3,001 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Global Water Resources by 152.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after buying an additional 2,091 shares during the last quarter. Tower Research Capital LLC TRC increased its position 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 buying an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets increased 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 buying an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Global Water Resources during the fourth quarter valued at $84,000. Hedge funds and other 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.