Global Water Resources Inc (NASDAQ:GWRS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a one year consensus price objective of $12.00 for the company and are forecasting that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 209 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded Global Water Resources from a “sell” rating to a “hold” rating in a research note on Friday, December 28th.

In related news, Director Debra Coy acquired 2,600 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were bought at an average price of $9.90 per share, for a total transaction of $25,740.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cindy M. Bowers sold 9,426 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $9.50, for a total value of $89,547.00. The disclosure for this sale can be found here. Insiders own 45.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in GWRS. BlackRock Inc. raised its stake in shares of Global Water Resources by 2.3% during the 3rd quarter. BlackRock Inc. now owns 491,142 shares of the utilities provider’s stock worth $5,202,000 after purchasing an additional 10,829 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Global Water Resources by 15.5% during the 3rd quarter. Renaissance Technologies LLC now owns 174,147 shares of the utilities provider’s stock worth $1,844,000 after purchasing an additional 23,347 shares in the last quarter. Cumberland Partners Ltd raised its stake in shares of Global Water Resources by 20.0% during the 3rd quarter. Cumberland Partners Ltd now owns 270,000 shares of the utilities provider’s stock worth $2,853,000 after purchasing an additional 45,000 shares in the last quarter. Penn Capital Management Co. Inc. bought a new stake in shares of Global Water Resources during the 3rd quarter worth approximately $652,000. Finally, Vanguard Group Inc. raised its stake in shares of Global Water Resources by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 383,462 shares of the utilities provider’s stock worth $4,061,000 after purchasing an additional 25,649 shares in the last quarter. Institutional investors own 29.23% of the company’s stock.

NASDAQ GWRS traded up $0.05 during trading on Wednesday, hitting $9.67. The stock had a trading volume of 7,825 shares, compared to its average volume of 16,442. The stock has a market capitalization of $207.19 million, a price-to-earnings ratio of 64.47, a PEG ratio of 4.93 and a beta of -0.22. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.81 and a current ratio of 1.81. Global Water Resources has a 12 month low of $8.63 and a 12 month high of $11.61.

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a $0.0239 dividend. This represents a $0.29 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, April 15th. Global Water Resources’s payout ratio is 193.33%.

About Global Water Resources

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, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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