StockNews.com Begins Coverage on Global Water Resources (NASDAQ:GWRS)

StockNews.com initiated coverage on shares of Global Water Resources (NASDAQ:GWRS – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

Separately, TheStreet raised shares of Global Water Resources from a c+ rating to a b- rating in a research note on Thursday, January 19th.

Global Water Resources Trading Up 1.0 %

Shares of Global Water Resources stock opened at $12.72 on Thursday. The firm has a market capitalization of $303.63 million, a PE ratio of 53.00, a price-to-earnings-growth ratio of 3.11 and a beta of 0.73. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.40. The firm’s 50 day moving average is $13.71 and its 200 day moving average is $13.12. Global Water Resources has a 1 year low of $10.61 and a 1 year high of $17.35.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, March 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.36%. Global Water Resources’s payout ratio is presently 125.00%.

Insider Activity at Global Water Resources

In related news, Director Andrew M. Cohn bought 2,362 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $12.13 per share, for a total transaction of $28,651.06. Following the transaction, the director now directly owns 2,080,212 shares of the company’s stock, valued at $25,232,971.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 45.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its holdings in Global Water Resources by 135.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,803 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its position in Global Water Resources by 47.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 1,477 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Global Water Resources by 649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 4,908 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Global Water Resources during the 4th quarter valued at $95,000. Finally, Bank of America Corp DE raised its stake in shares of Global Water Resources by 144.4% during the 4th quarter. Bank of America Corp DE now owns 14,985 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 8,853 shares during the period. Institutional investors and hedge funds own 29.25% of the company’s stock.

Global Water Resources Company Profile

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Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.