Global Water Resources (NASDAQ:GWRS) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Global Water Resources (NASDAQ:GWRS) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.00.

Global Water Resources Stock Down 4.2%

Shares of GWRS stock opened at $7.28 on Friday. Global Water Resources has a 1 year low of $6.55 and a 1 year high of $10.17. The stock has a market cap of $217.93 million, a PE ratio of 91.01 and a beta of 0.96. The business’s fifty day moving average is $8.22 and its 200-day moving average is $7.86. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 0.77.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Global Water Resources had a net margin of 3.98% and a return on equity of 2.06%. The firm had revenue of $16.30 million during the quarter, compared to analyst estimates of $16.00 million. Equities analysts expect that Global Water Resources will post 0.09 earnings per share for the current fiscal year.

Global Water Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.0253 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.30 dividend on an annualized basis and a yield of 4.2%. Global Water Resources’s dividend payout ratio is currently 375.00%.

Insider Activity at Global Water Resources

In other news, Director Andrew Cohn acquired 139,343 shares of the stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the transaction, the director owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. This trade represents a 5.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Water Resources

A number of hedge funds have recently added to or reduced their stakes in the company. TSP Capital Management Group LLC grew its holdings in Global Water Resources by 9.8% in the 3rd quarter. TSP Capital Management Group LLC now owns 1,471,701 shares of the utilities provider’s stock valued at $11,700,000 after buying an additional 131,396 shares during the last quarter. Heartland Advisors Inc. boosted its position in shares of Global Water Resources by 21.1% in the first quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock valued at $6,308,000 after acquiring an additional 144,600 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Global Water Resources by 2,898.1% in the third quarter. Russell Investments Group Ltd. now owns 186,241 shares of the utilities provider’s stock worth $1,481,000 after acquiring an additional 180,029 shares during the last quarter. Cullen Capital Management LLC acquired a new stake in shares of Global Water Resources in the second quarter worth $242,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Global Water Resources in the second quarter worth $253,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.