JPMorgan Chase & Co. Sells 52,288 Shares of Consolidated Water Co. Ltd. $CWCO

JPMorgan Chase & Co. lessened its stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,090 shares of the utilities provider’s stock after selling 52,288 shares during the period. JPMorgan Chase & Co. owned 3.67% of Consolidated Water worth $20,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centaurus Financial Inc. purchased a new stake in Consolidated Water in the 3rd quarter valued at about $111,000. PharVision Advisers LLC bought a new stake in shares of Consolidated Water during the third quarter valued at approximately $258,000. Verition Fund Management LLC bought a new stake in shares of Consolidated Water during the third quarter valued at approximately $290,000. Quarry LP purchased a new stake in shares of Consolidated Water in the third quarter valued at approximately $40,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Consolidated Water by 3.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 17,121 shares of the utilities provider’s stock valued at $604,000 after purchasing an additional 571 shares during the period. Institutional investors own 55.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director Maria Elena Giner purchased 3,310 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $30.24 per share, for a total transaction of $100,094.40. Following the acquisition, the director owned 3,310 shares of the company’s stock, valued at $100,094.40. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.25% of the stock is currently owned by corporate insiders.

Consolidated Water Stock Performance

NASDAQ CWCO opened at $32.46 on Wednesday. Consolidated Water Co. Ltd. has a one year low of $22.69 and a one year high of $39.12. The company has a market capitalization of $518.06 million, a price-to-earnings ratio of 33.46 and a beta of 0.50. The company’s 50-day simple moving average is $36.28 and its two-hundred day simple moving average is $35.34.

Consolidated Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.56 dividend on an annualized basis and a yield of 1.7%. Consolidated Water’s dividend payout ratio is currently 57.73%.

Analyst Upgrades and Downgrades

Several research firms have commented on CWCO. Weiss Ratings downgraded Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 17th. Wall Street Zen cut Consolidated Water from a “strong-buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.