Global Water Resources, Inc. (NASDAQ:GWRS) Director Purchases $2,520,000.00 in Stock

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn bought 252,000 shares of the stock in a transaction on Thursday, March 27th. The shares were 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 of the company’s stock, valued at $23,798,990. This trade represents a 11.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Global Water Resources Trading Down 1.4 %

Shares of NASDAQ:GWRS opened at $10.21 on Thursday. The company has a market capitalization of $247.35 million, a PE ratio of 37.81, a P/E/G ratio of 2.53 and a beta of 1.01. 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 12-month low of $9.79 and a 12-month high of $13.98. The business’s fifty day simple moving average is $11.24 and its 200-day simple moving average is $12.01.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 5th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company 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 research analysts predict 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 Wednesday, April 30th. Investors of record on Wednesday, April 16th will be paid a dividend of $0.0253 per share. The ex-dividend date is Wednesday, April 16th. This represents a $0.30 annualized dividend and a dividend yield of 2.98%. Global Water Resources’s dividend payout ratio (DPR) is presently 125.00%.

Institutional Investors Weigh In On Global Water Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Global Water Resources by 0.7% during the third quarter. State Street Corp now owns 220,872 shares of the utilities provider’s stock worth $2,781,000 after purchasing an additional 1,496 shares in the last quarter. Barclays PLC increased its position in Global Water Resources by 89.3% during the 3rd quarter. Barclays PLC now owns 31,663 shares of the utilities provider’s stock valued at $400,000 after buying an additional 14,936 shares in the last quarter. Geode Capital Management LLC increased its position in Global Water Resources by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 272,509 shares of the utilities provider’s stock valued at $3,431,000 after buying an additional 8,593 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Global Water Resources by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider’s stock valued at $264,000 after buying an additional 12,636 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Global Water Resources in the fourth quarter worth about $327,000. Hedge funds and other institutional investors 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.