According to Zacks, “Consolidated Water's first-quarter earnings and revenues outpaced the Zacks Consensus Estimate. The company is exposed to negative foreign exchange fluctuations, which may largely affect its performance. Fluctuation in weather conditions and risks of contamination of its processed water are other headwinds. Delay in collection of accounts receivable and the risk of losing major customers, if the company’s exclusive license is not renewed, are headwinds. Its shares have underperformed the industry in the past six months. However, Consolidated Water is utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, and the Bahamas.”
Separately, ValuEngine upgraded Consolidated Water from a hold rating to a buy rating in a research note on Monday, February 4th.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st were paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, March 29th. Consolidated Water’s payout ratio is currently 50.00%.
In other Consolidated Water news, Director Clarence B. Flowers sold 7,393 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $12.54, for a total value of $92,708.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wilmer F. Pergande sold 2,383 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $12.78, for a total value of $30,454.74. Following the completion of the sale, the director now owns 27,580 shares in the company, valued at $352,472.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,237 shares of company stock worth $223,560. 4.79% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of CWCO. Penn Capital Management Co. Inc. acquired a new stake in Consolidated Water in the first quarter valued at $3,079,000. Amundi Pioneer Asset Management Inc. raised its stake in Consolidated Water by 8.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,147,381 shares of the utilities provider’s stock valued at $13,379,000 after buying an additional 89,192 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in Consolidated Water by 35.2% in the first quarter. Icon Advisers Inc. Co. now owns 156,400 shares of the utilities provider’s stock valued at $2,013,000 after buying an additional 40,700 shares in the last quarter. Globeflex Capital L P acquired a new stake in Consolidated Water in the first quarter valued at $519,000. Finally, BlackRock Inc. raised its stake in Consolidated Water by 3.8% in the fourth quarter. BlackRock Inc. now owns 836,911 shares of the utilities provider’s stock valued at $9,758,000 after buying an additional 30,836 shares in the last quarter. Institutional investors own 54.49% of the company’s stock.
Consolidated Water Company Profile
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems primarily in the Cayman Islands, the Bahamas, Indonesia, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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