Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on October 30th

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Wednesday, September 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.0253 per share by the utilities provider on Friday, October 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, October 16th.

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. Equities research analysts expect Global Water Resources to earn $0.13 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 230.8%.

Global Water Resources Stock Down 1.6%

GWRS opened at $8.07 on Wednesday. The firm has a 50 day moving average price of $8.45 and a 200 day moving average price of $7.67. The company has a market cap of $232.42 million, a PE ratio of 91.11 and a beta of 0.95. Global Water Resources has a 1 year low of $6.55 and a 1 year high of $11.07. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The firm had revenue of $17.77 million for the quarter, compared to analysts’ expectations of $14.93 million. Sell-side analysts expect that Global Water Resources will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andrew Cohn purchased 139,343 shares of Global Water Resources stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the transaction, the director owned 2,701,350 shares of the company’s stock, valued at approximately $23,906,947.50. The trade was a 5.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 53.70% of the company’s stock.

Institutional Trading of Global Water Resources

Several large investors have recently bought and sold shares of the company. Cullen Capital Management LLC acquired a new position in shares of Global Water Resources during the second quarter worth $242,000. Bank of New York Mellon Corp acquired a new stake in Global Water Resources during the 2nd quarter valued at $253,000. Dynamic Advisor Solutions LLC grew its holdings in Global Water Resources by 4.0% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 55,785 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 2,133 shares in the last quarter. Heartland Advisors Inc. grew its holdings in Global Water Resources by 21.1% during the 1st quarter. Heartland Advisors Inc. now owns 831,100 shares of the utilities provider’s stock valued at $6,308,000 after purchasing an additional 144,600 shares in the last quarter. Finally, TSP Capital Management Group LLC grew its holdings in Global Water Resources by 56.0% during the 1st quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock valued at $8,972,000 after purchasing an additional 424,438 shares in the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns, operates and manages regulated water, wastewater and recycled water utilities. The company provides essential services to residential, commercial and industrial customers, with a focus on managing the entire water cycle within the communities it serves.

Global Water Resources operates primarily in the metropolitan Phoenix area and other growing communities in Arizona. Its services include potable water delivery, wastewater collection and treatment, water reuse, conservation programs, infrastructure maintenance and customer billing.