Consolidated Water (NASDAQ:CWCO) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Consolidated Water Co. Ltd. (NASDAQ:CWCO)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $32.78 and traded as high as $36.25. Consolidated Water shares last traded at $35.79, with a volume of 52,334 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on CWCO. Weiss Ratings raised shares of Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Consolidated Water from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Consolidated Water has an average rating of “Buy” and a consensus target price of $40.00.

Consolidated Water Trading Up 0.8%

The business has a 50-day moving average of $35.01 and a 200 day moving average of $32.81. The firm has a market capitalization of $574.44 million, a PE ratio of 37.18 and a beta of 0.50.

Consolidated Water (NASDAQ:CWCO) last posted its earnings results on Monday, November 10th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.10. Consolidated Water had a net margin of 12.90% and a return on equity of 7.95%. The firm had revenue of $35.12 million during the quarter, compared to analyst estimates of $32.90 million. On average, sell-side analysts expect that Consolidated Water Co. Ltd. will post 1.27 EPS for the current fiscal year.

Consolidated Water Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. Consolidated Water’s dividend payout ratio (DPR) is currently 57.73%.

Insider Activity at Consolidated Water

In related news, CEO Frederick W. Mctaggart sold 1,848 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $35.76, for a total transaction of $66,084.48. Following the completion of the sale, the chief executive officer directly owned 287,310 shares of the company’s stock, valued at approximately $10,274,205.60. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wilmer F. Pergande sold 4,299 shares of Consolidated Water stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.75, for a total value of $145,091.25. Following the sale, the director owned 31,884 shares in the company, valued at $1,076,085. This trade represents a 11.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,200 shares of company stock valued at $246,978. 6.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Consolidated Water

A number of large investors have recently added to or reduced their stakes in CWCO. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Consolidated Water during the 2nd quarter valued at approximately $30,000. Quarry LP bought a new stake in shares of Consolidated Water in the 3rd quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its stake in Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 1,165 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Consolidated Water by 35.9% during the second quarter. Byrne Asset Management LLC now owns 2,254 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 595 shares during the period. Finally, CWM LLC increased its position in Consolidated Water by 67.5% in the third quarter. CWM LLC now owns 2,045 shares of the utilities provider’s stock worth $72,000 after buying an additional 824 shares during the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.