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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Tuesday, June 30th. Stockholders of record on Friday, July 17th will be paid a dividend of 0.0253 per share by the utilities provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, July 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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

GWRS traded down $0.01 on Tuesday, reaching $7.24. The company had a trading volume of 103,754 shares, compared to its average volume of 93,955. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.68 and a current ratio of 0.68. Global Water Resources has a 52-week low of $6.55 and a 52-week high of $11.17. The company has a market cap of $208.22 million, a price-to-earnings ratio of 103.43 and a beta of 0.92. The business has a 50 day simple moving average of $7.14 and a 200 day simple moving average of $7.93.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. As a group, sell-side analysts anticipate that Global Water Resources will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, CFO Michael J. Liebman purchased 7,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $6.89 per share, for a total transaction of $48,230.00. Following the acquisition, the chief financial officer directly owned 7,000 shares of the company’s stock, valued at $48,230. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher D. Krygier purchased 5,389 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $6.87 per share, with a total value of $37,022.43. Following the completion of the acquisition, 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. 53.70% of the stock is owned by insiders.

Institutional Trading of Global Water Resources

A number of institutional investors have recently modified their holdings of GWRS. Allworth Financial LP increased its holdings in Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 3,001 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Global Water Resources by 258.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Global Water Resources during the 4th quarter valued at $84,000. 27.91% of the stock is currently owned by hedge funds and other 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.