Andrew M. Cohn Acquires 2,362 Shares of Global Water Resources, Inc. (NASDAQ:GWRS) Stock

Global Water Resources, Inc. (NASDAQ:GWRS – Get Rating) Director Andrew M. Cohn acquired 2,362 shares of the stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $12.13 per share, for a total transaction of $28,651.06. Following the completion of the transaction, the director now owns 2,080,212 shares in the company, valued at $25,232,971.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Global Water Resources Stock Performance

NASDAQ GWRS opened at $12.72 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.40. Global Water Resources, Inc. has a twelve month low of $10.61 and a twelve month high of $17.35. The business has a 50-day moving average price of $13.71 and a 200-day moving average price of $13.13. The firm has a market cap of $303.63 million, a price-to-earnings ratio of 53.00, a price-to-earnings-growth ratio of 3.10 and a beta of 0.73.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a $0.025 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, March 16th. Global Water Resources’s payout ratio is 125.00%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com began coverage on shares of Global Water Resources in a report on Thursday. They set a “hold” rating on the stock. TheStreet upgraded shares of Global Water Resources from a “c+” rating to a “b-” rating in a research note on Thursday, January 19th.

Institutional Trading of Global Water Resources

Institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. lifted its position in shares of Global Water Resources by 12.3% during the third quarter. Polar Asset Management Partners Inc. now owns 1,481,077 shares of the utilities provider’s stock worth $17,333,000 after purchasing an additional 162,640 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Global Water Resources by 3.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,074,000 shares of the utilities provider’s stock valued at $12,598,000 after buying an additional 34,000 shares in the last quarter. Select Equity Group L.P. boosted its position in Global Water Resources by 55.1% in the 4th quarter. Select Equity Group L.P. now owns 73,554 shares of the utilities provider’s stock valued at $977,000 after buying an additional 26,140 shares during the period. Millennium Management LLC increased its position in shares of Global Water Resources by 75.2% during the fourth quarter. Millennium Management LLC now owns 55,441 shares of the utilities provider’s stock worth $736,000 after acquiring an additional 23,795 shares during the period. Finally, Handelsinvest Investeringsforvaltning grew its stake in Global Water Resources by 5.3% in the third quarter. Handelsinvest Investeringsforvaltning now owns 404,900 shares of the utilities provider’s stock worth $4,749,000 after purchasing an additional 20,269 shares in the last quarter. 29.25% of the stock is currently owned by institutional investors.

Global Water Resources Company Profile

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Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.