Wesbanco Bank Inc. Buys 30,500 Shares of Global Water Resources, Inc. (NASDAQ:GWRS)

Wesbanco Bank Inc. lifted its stake in Global Water Resources, Inc. (NASDAQ:GWRS) by 98.4% in the first quarter, HoldingsChannel.com reports. The fund owned 61,500 shares of the utilities provider’s stock after purchasing an additional 30,500 shares during the period. Wesbanco Bank Inc.’s holdings in Global Water Resources were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GWRS. JPMorgan Chase & Co. grew its stake in shares of Global Water Resources by 110.3% in the fourth quarter. JPMorgan Chase & Co. now owns 44,067 shares of the utilities provider’s stock worth $507,000 after acquiring an additional 23,113 shares during the period. Perritt Capital Management Inc grew its position in Global Water Resources by 105.9% during the fourth quarter. Perritt Capital Management Inc now owns 35,000 shares of the utilities provider’s stock valued at $402,000 after buying an additional 18,000 shares during the period. Deutsche Bank AG grew its position in Global Water Resources by 4,273.8% during the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock valued at $173,000 after buying an additional 14,659 shares during the period. Millennium Management LLC grew its position in Global Water Resources by 87.8% during the fourth quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider’s stock valued at $311,000 after buying an additional 12,654 shares during the period. Finally, Gitterman Wealth Management LLC bought a new stake in Global Water Resources during the fourth quarter valued at approximately $123,000. 27.91% of the stock is currently owned by institutional investors.

Global Water Resources Price Performance

Shares of NASDAQ:GWRS opened at $10.80 on Wednesday. Global Water Resources, Inc. has a 1-year low of $9.37 and a 1-year high of $13.98. The firm’s 50 day simple moving average is $10.25 and its two-hundred day simple moving average is $11.14. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63. The company has a market capitalization of $296.47 million, a P/E ratio of 40.00, a P/E/G ratio of 2.53 and a beta of 1.04.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The firm had revenue of $12.46 million during the quarter, compared to analyst estimates of $12.00 million. Research analysts expect that Global Water Resources, Inc. will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The company also recently announced a jun 25 dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.0253 dividend. This represents a dividend yield of 3%. The ex-dividend date is Monday, June 16th. Global Water Resources’s dividend payout ratio is currently 130.43%.

Insider Activity

In related news, Director Andrew M. Cohn purchased 252,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $2,520,000.00. Following the completion of the acquisition, the director now owns 2,379,899 shares in the company, valued at approximately $23,798,990. This trade represents a 11.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 54.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Global Water Resources Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.