Global Water Resources, Inc. (GWRS) To Go Ex-Dividend on March 17th

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, February 27th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.0253 per share by the utilities provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, March 17th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Stock Up 2.8%

Shares of NASDAQ GWRS traded up $0.20 during mid-day trading on Friday, reaching $7.36. The company had a trading volume of 147,947 shares, compared to its average volume of 77,776. The stock has a fifty day moving average of $8.67 and a two-hundred day moving average of $9.20. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $211.67 million, a price-to-earnings ratio of 73.61 and a beta of 0.96. Global Water Resources has a 12-month low of $7.12 and a 12-month high of $11.39.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, March 4th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $13.54 million for the quarter, compared to analyst estimates of $13.73 million. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%. As a group, equities research analysts expect that Global Water Resources will post 0.28 EPS for the current year.

Insider Activity

In other Global Water Resources news, Director Andrew M. Cohn acquired 18,305 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $7.20 per share, for a total transaction of $131,796.00. Following the completion of the acquisition, the director owned 2,560,984 shares of the company’s stock, valued at approximately $18,439,084.80. This trade represents a 0.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 54.30% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

Several institutional investors have recently bought and sold shares of GWRS. Los Angeles Capital Management LLC increased its holdings in shares of Global Water Resources by 222.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 51,286 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 35,395 shares during the last quarter. TSP Capital Management Group LLC acquired a new stake in Global Water Resources in the 3rd quarter worth approximately $3,323,000. Atria Investments Inc acquired a new stake in Global Water Resources in the 2nd quarter worth approximately $160,000. Handelsbanken Fonder AB boosted its position in Global Water Resources by 9.8% during the second quarter. Handelsbanken Fonder AB now owns 1,675,000 shares of the utilities provider’s stock worth $17,068,000 after purchasing an additional 150,000 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in Global Water Resources by 5.0% during the second quarter. Panagora Asset Management Inc. now owns 74,478 shares of the utilities provider’s stock worth $759,000 after purchasing an additional 3,532 shares during the period. 27.91% of the stock is currently owned by institutional investors.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.