Global Water Resources, Inc. (NASDAQ:GWRS) Shares Will Pay Monthly Dividend of $0.03

by · The Markets Daily

Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) announced a monthly dividend on Wednesday, September 30th. Investors of record on Friday, October 16th will be given a dividend of $0.0253 per share by the utilities provider on Friday, October 30th. This represents a $0.30 annualized dividend and a dividend yield of 3.8%. The ex-dividend date 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 raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 0.4%

GWRS stock opened at $7.95 on Thursday. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. The firm has a market cap of $228.96 million, a PE ratio of 72.28 and a beta of 0.93. The business has a 50 day moving average of $8.31 and a 200 day moving average of $7.63.

Global Water Resources (NASDAQ:GWRS – Get Free Report) last released its earnings results on Thursday, August 13th. The utilities provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%.The business had revenue of $17.77 million for the quarter, compared to the consensus estimate of $14.93 million. On average, research analysts forecast that Global Water Resources will post 0.09 EPS for the current fiscal year.

Insider Activity at Global Water Resources

In other Global Water Resources news, Director Andrew Cohn bought 139,343 shares of Global Water Resources stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the acquisition, the director owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. This trade represents a 5.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 53.70% of the company’s stock.

Institutional Investors Weigh In On Global Water Resources

Several institutional investors have recently modified their holdings of GWRS. Cullen Capital Management LLC bought a new stake in Global Water Resources in the 2nd quarter worth about $242,000. Bank of New York Mellon Corp bought a new position in Global Water Resources during the 2nd quarter valued at about $253,000. Dynamic Advisor Solutions LLC lifted its stake 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 acquiring an additional 2,133 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 144,600 shares during the last quarter. Finally, TSP Capital Management Group LLC grew its stake in shares of Global Water Resources by 56.0% in the first quarter. TSP Capital Management Group LLC now owns 1,182,144 shares of the utilities provider’s stock worth $8,972,000 after acquiring an additional 424,438 shares during the period. 27.91% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

(Get Free Report)

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities. The company serves residential, commercial and industrial customers, providing essential services such as water production and distribution, wastewater collection and treatment, and water reuse.

Headquartered in Arizona, Global Water Resources primarily operates in the Phoenix metropolitan area and surrounding growth corridors.

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