Consolidated Water Co. Ltd. $CWCO Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,090 shares of the utilities provider’s stock after selling 52,288 shares during the quarter. JPMorgan Chase & Co. owned 3.67% of Consolidated Water worth $20,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Consolidated Water during the third quarter worth approximately $1,690,000. Renaissance Group LLC purchased a new position in Consolidated Water in the third quarter valued at $1,148,000. Inspire Investing LLC acquired a new stake in Consolidated Water in the third quarter valued at $1,089,000. Los Angeles Capital Management LLC purchased a new stake in Consolidated Water during the 2nd quarter worth about $721,000. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Consolidated Water during the 3rd quarter worth approximately $834,000. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Wall Street Analysts Forecast Growth

CWCO has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Water in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Consolidated Water from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.00.

Insider Activity at Consolidated Water

In other news, Director Wilmer F. Pergande sold 4,299 shares of Consolidated Water stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $33.75, for a total value of $145,091.25. Following the completion of the transaction, the director owned 31,884 shares in the company, valued at approximately $1,076,085. This trade represents a 11.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.25% of the company’s stock.

Consolidated Water Price Performance

Shares of Consolidated Water stock opened at $38.03 on Tuesday. The company has a market capitalization of $605.82 million, a PE ratio of 39.21 and a beta of 0.50. Consolidated Water Co. Ltd. has a 1-year low of $22.69 and a 1-year high of $39.12. The business has a 50-day moving average of $36.81 and a 200-day moving average of $35.22.

Consolidated Water Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Consolidated Water’s dividend payout ratio (DPR) is currently 57.73%.

Consolidated Water Profile

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.