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

According to Zacks, “Consolidated Water is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, The Bahamas and Belize. However, Consolidated Water’s shares have gained lower than the industry in the last 12 months. Its earnings per share in the third quarter were lower than the Zacks Consensus Estimate. Hurricane Irma has affected operations of the company’s water treatment plants but its impact was minimal in the reported quarter. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Consolidated Water from a b rating to a c+ rating in a research note on Wednesday, November 1st. Roth Capital set a $15.00 price target on shares of Consolidated Water and gave the stock a buy rating in a research note on Monday, November 13th.

Consolidated Water (CWCO) traded down $0.20 on Wednesday, hitting $12.95. The stock had a trading volume of 35,700 shares, compared to its average volume of 53,297. Consolidated Water has a one year low of $9.80 and a one year high of $13.95. The stock has a market capitalization of $195.96, a price-to-earnings ratio of 23.91, a P/E/G ratio of 3.51 and a beta of 0.88.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 3rd will be paid a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This is an increase from Consolidated Water’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.63%. Consolidated Water’s dividend payout ratio is 73.17%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of Consolidated Water by 21.0% in the second quarter. Royal Bank of Canada now owns 8,382 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,452 shares during the last quarter. American International Group Inc. increased its stake in shares of Consolidated Water by 7.1% in the first quarter. American International Group Inc. now owns 8,953 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 593 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Consolidated Water during the second quarter worth $135,000. Essex Financial Services Inc. increased its position in Consolidated Water by 186.7% during the third quarter. Essex Financial Services Inc. now owns 14,159 shares of the utilities provider’s stock worth $181,000 after buying an additional 9,221 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Consolidated Water by 4.1% during the second quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock worth $206,000 after buying an additional 660 shares during the last quarter. 48.89% of the stock is currently owned by institutional investors and hedge funds.

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About Consolidated Water

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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