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

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn acquired 252,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 2,379,899 shares of the company’s stock, valued at approximately $23,798,990. This trade represents a 11.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Global Water Resources Stock Performance

Shares of GWRS stock opened at $10.21 on Thursday. The business has a fifty day moving average of $11.24 and a 200 day moving average of $12.01. Global Water Resources, Inc. has a 1 year low of $9.79 and a 1 year high of $13.98. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.62 and a quick ratio of 1.63. The firm has a market capitalization of $247.35 million, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data 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 firm had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $12.70 million. Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. As a group, research analysts expect that Global Water Resources, Inc. will post 0.28 earnings per share for the current year.

Global Water Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.0253 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Wednesday, April 16th. Global Water Resources’s dividend payout ratio (DPR) is currently 125.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Gitterman Wealth Management LLC purchased a new stake in Global Water Resources in the fourth quarter valued at $123,000. Deutsche Bank AG raised its stake in shares of Global Water Resources by 4,273.8% during the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock valued at $173,000 after buying an additional 14,659 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Global Water Resources by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock valued at $232,000 after buying an additional 1,327 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Global Water Resources by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider’s stock worth $264,000 after buying an additional 12,636 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Global Water Resources by 61.8% during the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock worth $282,000 after acquiring an additional 9,370 shares during the period. 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.