Andrew M. Cohn Buys 111,000 Shares of Global Water Resources, Inc. (NASDAQ:GWRS) Stock

Global Water Resources, Inc. (NASDAQ:GWRSGet Rating) Director Andrew M. Cohn bought 111,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average cost of $13.50 per share, with a total value of $1,498,500.00. Following the completion of the transaction, the director now owns 2,066,240 shares in the company, valued at $27,894,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Global Water Resources Trading Up 2.0 %

Shares of Global Water Resources stock opened at $14.20 on Thursday. Global Water Resources, Inc. has a 1 year low of $12.54 and a 1 year high of $21.25. The firm has a market cap of $322.58 million, a PE ratio of 64.55, a P/E/G ratio of 4.66 and a beta of 0.69. The stock has a fifty day moving average price of $13.67 and a 200-day moving average price of $14.73. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.04 and a quick ratio of 1.04.

Global Water Resources (NASDAQ:GWRSGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. Global Water Resources had a return on equity of 11.62% and a net margin of 11.05%. The company had revenue of $10.03 million during the quarter, compared to analyst estimates of $10.00 million. Equities research analysts anticipate that Global Water Resources, Inc. will post 0.19 EPS for the current year.

Global Water Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be issued a $0.0246 dividend. This represents a $0.29 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, August 16th. Global Water Resources’s dividend payout ratio (DPR) is currently 131.82%.

Institutional Investors Weigh In On Global Water Resources

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in Global Water Resources by 685.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,476 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,288 shares during the last quarter. Amalgamated Bank purchased a new stake in Global Water Resources in the 1st quarter worth about $34,000. Allspring Global Investments Holdings LLC purchased a new stake in Global Water Resources in the 4th quarter worth about $167,000. Silverhawk Asset Management LLC purchased a new stake in Global Water Resources in the 4th quarter worth about $185,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Global Water Resources in the 1st quarter worth about $197,000. Hedge funds and other institutional investors own 31.93% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Global Water Resources from a “hold” rating to a “buy” rating in a research report on Friday, July 29th.

Global Water Resources Company Profile

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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, 2020, it served approximately 74,048 people in approximately 27,630 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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