Consolidated Water (NASDAQ:CWCO) Downgraded by StockNews.com

StockNews.com cut shares of Consolidated Water (NASDAQ:CWCO) from a buy rating to a hold rating in a research note released on Wednesday.

Consolidated Water Trading Up 1.6 %

Shares of NASDAQ CWCO opened at $25.22 on Wednesday. Consolidated Water has a fifty-two week low of $16.50 and a fifty-two week high of $38.29. The stock has a fifty day moving average of $27.59 and a 200-day moving average of $31.04.

Consolidated Water Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 1st will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 28th.

Hedge Funds Weigh In On Consolidated Water

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in Consolidated Water by 35.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 68,058 shares of the utilities provider’s stock worth $1,995,000 after buying an additional 17,926 shares in the last quarter. GoalVest Advisory LLC purchased a new position in Consolidated Water during the first quarter worth about $29,000. Creekmur Asset Management LLC purchased a new position in Consolidated Water during the fourth quarter worth about $45,000. Campbell & CO Investment Adviser LLC purchased a new position in Consolidated Water during the fourth quarter worth about $629,000. Finally, Journey Strategic Wealth LLC purchased a new position in Consolidated Water during the fourth quarter worth about $239,000. 55.16% of the stock is currently owned by hedge funds and other institutional investors.

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.