Consolidated Water Co. Ltd. (NASDAQ:CWCO – Get Rating) declared a quarterly dividend on Tuesday, November 22nd, Zacks reports. Investors of record on Tuesday, January 3rd will be paid a dividend of 0.085 per share by the utilities provider on Tuesday, January 31st. This represents a $0.34 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, December 30th.
Consolidated Water has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Water to earn $0.89 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 38.2%.
Consolidated Water Trading Down 0.3 %
Shares of NASDAQ CWCO opened at $15.03 on Wednesday. The company has a 50 day simple moving average of $16.89 and a 200 day simple moving average of $15.35. Consolidated Water has a 1 year low of $9.01 and a 1 year high of $20.58.
Insider Activity at Consolidated Water
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. First Manhattan Co. grew its stake in Consolidated Water by 1.2% during the first quarter. First Manhattan Co. now owns 506,832 shares of the utilities provider’s stock valued at $5,605,000 after acquiring an additional 6,050 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Consolidated Water by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 359,609 shares of the utilities provider’s stock worth $5,532,000 after purchasing an additional 5,575 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Consolidated Water by 4.8% during the third quarter. BlackRock Inc. now owns 216,544 shares of the utilities provider’s stock valued at $3,329,000 after purchasing an additional 9,849 shares during the period. Vanguard Group Inc. increased its position in shares of Consolidated Water by 36.2% during the third quarter. Vanguard Group Inc. now owns 212,976 shares of the utilities provider’s stock worth $3,275,000 after acquiring an additional 56,596 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Consolidated Water by 14.4% in the 1st quarter. Northern Trust Corp now owns 184,510 shares of the utilities provider’s stock worth $2,040,000 after buying an additional 23,231 shares during the period. 46.34% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on CWCO. StockNews.com cut shares of Consolidated Water from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 16th. Janney Montgomery Scott upgraded Consolidated Water from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, November 16th.
Consolidated Water Company Profile
Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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