Global Water Resources, Inc. (NASDAQ:GWRS) Plans Monthly Dividend of $0.03

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, July 31st. Stockholders of record on Monday, August 17th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 17th.

Global Water Resources has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.11 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 272.7%.

Global Water Resources Price Performance

Global Water Resources stock opened at $8.60 on Friday. Global Water Resources has a 52 week low of $6.55 and a 52 week high of $11.17. The firm has a market cap of $247.64 million, a P/E ratio of 78.19 and a beta of 0.91. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.68. The business’s fifty day moving average is $7.23 and its two-hundred day moving average is $7.63.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.03%. The firm had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $14.93 million. Equities research analysts forecast that Global Water Resources will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Global Water Resources

In other news, CFO Michael J. Liebman purchased 7,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $6.89 per share, for a total transaction of $48,230.00. Following the completion of the purchase, the chief financial officer directly owned 7,000 shares in the company, valued at $48,230. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher D. Krygier acquired 5,389 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the purchase, the chief operating officer directly owned 10,485 shares in the company, valued at $72,031.95. The trade was a 105.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 53.70% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. TSP Capital Management Group LLC increased its position in Global Water Resources by 56.0% during the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 424,438 shares during the last quarter. Heartland Advisors Inc. boosted its stake in shares of Global Water Resources by 52.6% during the 4th quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock worth $5,801,000 after acquiring an additional 236,500 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Global Water Resources by 36.5% during the 1st quarter. North Star Investment Management Corp. now owns 415,448 shares of the utilities provider’s stock worth $3,153,000 after acquiring an additional 111,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Global Water Resources during the 4th quarter worth approximately $609,000. Finally, Bank of New York Mellon Corp bought a new stake in Global Water Resources in the 2nd quarter valued at $253,000. Institutional investors own 27.91% of the company’s stock.

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.