CLARET ASSET MANAGEMENT Corp lessened its holdings in Global Water Resources Inc (NASDAQ:GWRS) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,004 shares of the utilities provider’s stock after selling 3,977 shares during the quarter. CLARET ASSET MANAGEMENT Corp owned 1.73% of Global Water Resources worth $4,405,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its position in Global Water Resources by 57.2% during the second quarter. Morgan Stanley now owns 20,322 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 7,392 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Global Water Resources by 10.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,151 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 2,757 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Global Water Resources by 9.1% in the second quarter. Parametric Portfolio Associates LLC now owns 32,032 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 2,667 shares during the period. Royal Bank of Canada raised its position in shares of Global Water Resources by 64.6% in the second quarter. Royal Bank of Canada now owns 63,303 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 24,847 shares during the period. Finally, Granite Investment Partners LLC raised its position in shares of Global Water Resources by 87.8% in the first quarter. Granite Investment Partners LLC now owns 77,156 shares of the utilities provider’s stock valued at $757,000 after purchasing an additional 36,066 shares during the period. 29.68% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ GWRS traded up $0.32 during trading hours on Friday, reaching $11.97. The company’s stock had a trading volume of 2,900 shares, compared to its average volume of 26,093. The firm has a fifty day simple moving average of $12.05 and a 200-day simple moving average of $10.82. The stock has a market cap of $259.09 million, a P/E ratio of 79.80, a P/E/G ratio of 5.35 and a beta of 0.05. Global Water Resources Inc has a 52 week low of $9.00 and a 52 week high of $13.33. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.73 and a quick ratio of 1.73.
Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $9.12 million during the quarter, compared to analyst estimates of $9.30 million. Global Water Resources had a net margin of 5.73% and a return on equity of 7.03%. On average, research analysts expect that Global Water Resources Inc will post 0.15 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.048 per share. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.58 annualized dividend and a yield of 4.81%. Global Water Resources’s dividend payout ratio (DPR) is presently 193.33%.
Several research firms recently commented on GWRS. ValuEngine downgraded shares of Global Water Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Wednesday. TheStreet raised shares of Global Water Resources from a “c” rating to a “b-” rating in a report on Thursday, August 8th. Finally, BidaskClub raised shares of Global Water Resources from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th.
Global Water Resources Company Profile
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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