Global Water Resources (NASDAQ:GWRS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Global Water Resources (NASDAQ:GWRSGet Rating) from a hold rating to a buy rating in a report issued on Tuesday.

Separately, Janney Montgomery Scott initiated coverage on Global Water Resources in a research report on Monday, September 19th. They issued a buy rating and a $17.00 target price on the stock.

Global Water Resources Price Performance

Shares of NASDAQ:GWRS opened at $12.90 on Tuesday. The firm has a market cap of $307.87 million, a price-to-earnings ratio of 58.64, a P/E/G ratio of 4.12 and a beta of 0.73. Global Water Resources has a 1 year low of $10.61 and a 1 year high of $19.13. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The business has a fifty day simple moving average of $12.30 and a 200 day simple moving average of $13.26.

Global Water Resources Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a dividend of $0.025 per share. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02. The ex-dividend date is Tuesday, November 15th. This represents a $0.30 annualized dividend and a dividend yield of 2.33%. Global Water Resources’s dividend payout ratio is 131.82%.

Institutional Investors Weigh In On Global Water Resources

Several institutional investors and hedge funds have recently modified their holdings of GWRS. Amalgamated Bank acquired a new position in Global Water Resources during the first quarter worth $34,000. BNP Paribas Arbitrage SA boosted its stake in shares of Global Water Resources by 135.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 1,803 shares in the last quarter. BNP Paribas Arbitrage SNC increased its holdings in shares of Global Water Resources by 47.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 1,477 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Global Water Resources by 649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 4,908 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Global Water Resources in the 1st quarter valued at approximately $197,000. Institutional investors and hedge funds own 30.72% of the company’s stock.

Global Water Resources Company Profile

(Get Rating)

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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