Consolidated Water (NASDAQ:CWCO) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Consolidated Water (NASDAQ:CWCOFree Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Consolidated Water Stock Performance

Shares of Consolidated Water stock opened at $26.52 on Wednesday. The business’s 50 day simple moving average is $29.64 and its 200 day simple moving average is $31.62. Consolidated Water has a 52-week low of $16.18 and a 52-week high of $38.29. The firm has a market cap of $419.02 million, a PE ratio of 16.17, a P/E/G ratio of 2.64 and a beta of 0.09.

Consolidated Water Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 1st will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, March 28th. Consolidated Water’s dividend payout ratio is presently 23.17%.

Institutional Investors Weigh In On Consolidated Water

A number of hedge funds and other institutional investors have recently bought and sold shares of CWCO. Legato Capital Management LLC bought a new position in Consolidated Water in the fourth quarter valued at approximately $2,766,000. Aviva PLC bought a new position in Consolidated Water in the third quarter valued at approximately $587,000. Allspring Global Investments Holdings LLC bought a new position in Consolidated Water in the third quarter valued at approximately $1,486,000. MRP Capital Investments LLC grew its stake in Consolidated Water by 260.3% in the third quarter. MRP Capital Investments LLC now owns 65,580 shares of the utilities provider’s stock valued at $1,865,000 after purchasing an additional 47,380 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Consolidated Water by 34.3% in the third quarter. D.A. Davidson & CO. now owns 12,854 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 3,284 shares in the last quarter. Institutional investors and hedge funds own 55.16% of the company’s stock.

About Consolidated Water

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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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