Consolidated Water (NASDAQ:CWCO) Upgraded by Janney Montgomery Scott to “Buy”

Janney Montgomery Scott upgraded shares of Consolidated Water (NASDAQ:CWCOGet Rating) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, Marketbeat reports. Janney Montgomery Scott currently has $20.00 target price on the utilities provider’s stock.

Separately, StockNews.com cut shares of Consolidated Water from a strong-buy rating to a buy rating in a research report on Wednesday.

Consolidated Water Stock Down 0.3 %

NASDAQ:CWCO opened at $15.74 on Wednesday. Consolidated Water has a 12 month low of $9.01 and a 12 month high of $20.58. The company has a 50-day moving average price of $17.05 and a 200-day moving average price of $15.26.

Consolidated Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 3rd were given a dividend of $0.085 per share. The ex-dividend date was Friday, September 30th. This represents a $0.34 dividend on an annualized basis and a yield of 2.16%.

Insider Activity at Consolidated Water

In other Consolidated Water news, Director Clarence B. Flowers sold 3,430 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.46, for a total transaction of $56,457.80. Following the completion of the sale, the director now directly owns 300,476 shares in the company, valued at approximately $4,945,834.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Consolidated Water

Institutional investors and hedge funds have recently bought and sold shares of the company. Heartland Advisors Inc. bought a new stake in Consolidated Water during the 1st quarter valued at about $2,508,000. Manchester Capital Management LLC increased its stake in Consolidated Water by 91.1% during the 1st quarter. Manchester Capital Management LLC now owns 42,330 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 20,180 shares in the last quarter. TSP Capital Management Group LLC increased its stake in Consolidated Water by 10.0% during the 2nd quarter. TSP Capital Management Group LLC now owns 551,325 shares of the utilities provider’s stock valued at $7,994,000 after purchasing an additional 50,150 shares in the last quarter. Scotia Capital Inc. increased its stake in Consolidated Water by 31.1% during the 1st quarter. Scotia Capital Inc. now owns 30,831 shares of the utilities provider’s stock valued at $341,000 after purchasing an additional 7,318 shares in the last quarter. Finally, Abundance Wealth Counselors increased its stake in Consolidated Water by 3.3% during the 3rd quarter. Abundance Wealth Counselors now owns 21,708 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 688 shares in the last quarter. 46.34% of the stock is currently owned by institutional investors.

About Consolidated Water

(Get Rating)

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.

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