Consolidated Water Co. Ltd. (NASDAQ:CWCO) Sees Significant Decline in Short Interest

Consolidated Water Co. Ltd. (NASDAQ:CWCO) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 676,100 shares, a decrease of 8.0% from the September 30th total of 735,000 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily volume of 95,400 shares, the short-interest ratio is presently 7.1 days.

Consolidated Water Price Performance

Shares of CWCO traded down $0.25 during mid-day trading on Thursday, reaching $23.76. The company had a trading volume of 73,582 shares, compared to its average volume of 121,827. The company’s 50-day moving average is $25.64 and its 200-day moving average is $26.27. The company has a market capitalization of $376.22 million, a P/E ratio of 16.16, a P/E/G ratio of 2.47 and a beta of 0.16. Consolidated Water has a twelve month low of $23.70 and a twelve month high of $38.29.

Consolidated Water (NASDAQ:CWCO) last issued its quarterly earnings data on Wednesday, August 14th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The company had revenue of $32.48 million for the quarter, compared to the consensus estimate of $37.12 million. Consolidated Water had a net margin of 23.26% and a return on equity of 15.49%. As a group, equities analysts expect that Consolidated Water will post 1.25 EPS for the current fiscal year.

Consolidated Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 1st will be given a $0.11 dividend. This is an increase from Consolidated Water’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.44 annualized dividend and a yield of 1.85%. Consolidated Water’s payout ratio is presently 29.93%.

Institutional Trading of Consolidated Water

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Consolidated Water by 35.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 68,058 shares of the utilities provider’s stock worth $1,995,000 after acquiring an additional 17,926 shares during the last quarter. Principal Financial Group Inc. bought a new position in Consolidated Water in the 1st quarter worth approximately $445,000. Precision Wealth Strategies LLC lifted its holdings in Consolidated Water by 8.6% during the 1st quarter. Precision Wealth Strategies LLC now owns 6,912 shares of the utilities provider’s stock worth $203,000 after buying an additional 547 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Consolidated Water by 11.0% in the 1st quarter. BNP Paribas Financial Markets now owns 12,882 shares of the utilities provider’s stock valued at $378,000 after buying an additional 1,280 shares during the period. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Consolidated Water during the first quarter worth $1,847,000. Institutional investors own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.