Zacks Investment Research upgraded shares of Consolidated Water Co. (NASDAQ:CWCO) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Consolidated Water Co. Ltd. intends to develop and operate seawater conversion plants and water distribution systems in areas of the world where naturally-occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The company has signed contracts for its first overseas operations in the Commonwealth of the Bahamas. (PRESS RELEASE) “

Consolidated Water (NASDAQ:CWCO) opened at 12.16 on Tuesday. Consolidated Water has a 52-week low of $10.23 and a 52-week high of $14.69. The company has a market capitalization of $180.15 million, a P/E ratio of 23.57 and a beta of 0.85. The stock’s 50 day moving average price is $12.52 and its 200-day moving average price is $12.89.

Consolidated Water (NASDAQ:CWCO) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. Consolidated Water had a return on equity of 5.01% and a net margin of 13.29%. Analysts predict that Consolidated Water will post $0.60 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 3rd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, September 29th. Consolidated Water’s payout ratio is 57.69%.

In related news, Director Richard Finlay purchased 10,000 shares of Consolidated Water stock in a transaction that occurred on Wednesday, August 31st. The stock was bought at an average cost of $12.73 per share, for a total transaction of $127,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.18% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CWCO. Royal Bank of Canada boosted its position in shares of Consolidated Water by 3.5% in the first quarter. Royal Bank of Canada now owns 8,281 shares of the company’s stock valued at $100,000 after buying an additional 281 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Consolidated Water during the second quarter valued at $142,000. Vanguard Group Inc. boosted its position in shares of Consolidated Water by 4.1% in the second quarter. Vanguard Group Inc. now owns 24,370 shares of the company’s stock valued at $318,000 after buying an additional 949 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Consolidated Water during the second quarter valued at $334,000. Finally, Geode Capital Management LLC boosted its position in shares of Consolidated Water by 39.1% in the first quarter. Geode Capital Management LLC now owns 28,190 shares of the company’s stock valued at $342,000 after buying an additional 7,928 shares in the last quarter. Institutional investors own 45.55% of the company’s stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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