Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn Purchases 252,000 Shares

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn bought 252,000 shares of the stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $10.00 per share, with a total value of $2,520,000.00. Following the acquisition, the director now owns 2,379,899 shares in the company, valued at approximately $23,798,990. This represents a 11.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Global Water Resources Stock Up 0.3 %

NASDAQ:GWRS traded up $0.03 during midday trading on Monday, hitting $10.31. 73,923 shares of the company were exchanged, compared to its average volume of 26,686. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. Global Water Resources, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $13.98. The company has a market capitalization of $249.77 million, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a fifty day simple moving average of $11.34 and a 200 day simple moving average of $12.06.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $12.70 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. As a group, equities analysts anticipate that Global Water Resources, Inc. will post 0.28 earnings per share for the current fiscal year.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.0253 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, March 17th. Global Water Resources’s payout ratio is currently 125.00%.

Institutional Investors Weigh In On Global Water Resources

Several hedge funds have recently made changes to their positions in the business. Gitterman Wealth Management LLC purchased a new position in shares of Global Water Resources in the 4th quarter valued at approximately $123,000. Deutsche Bank AG lifted its position in Global Water Resources by 4,273.8% in the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 14,659 shares during the period. Ameriprise Financial Inc. boosted its holdings in Global Water Resources by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 1,327 shares in the last quarter. JPMorgan Chase & Co. increased its position in Global Water Resources by 151.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 12,636 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock valued at $282,000 after buying an additional 9,370 shares in the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.