Andrew M. Cohn Acquires 252,000 Shares of Global Water Resources, Inc. (NASDAQ:GWRS) Stock

Global Water Resources, Inc. (NASDAQ:GWRS) Director Andrew M. Cohn purchased 252,000 shares of Global Water Resources stock in a transaction dated Thursday, March 27th. The stock was 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Global Water Resources Trading Up 0.5 %

Shares of GWRS stock opened at $10.36 on Wednesday. The stock has a market capitalization of $250.98 million, a P/E ratio of 38.37, 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. The firm’s 50 day moving average is $11.28 and its 200 day moving average is $12.02. Global Water Resources, Inc. has a 12-month low of $9.79 and a 12-month high of $13.98.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, March 5th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. The firm had revenue of $13.29 million during the quarter, compared to the consensus estimate of $12.70 million. 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. Investors of record on Wednesday, April 16th will be issued a $0.0253 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Wednesday, April 16th. Global Water Resources’s payout ratio is 125.00%.

Institutional Trading of Global Water Resources

Large investors have recently added to or reduced their stakes in the business. Gitterman Wealth Management LLC purchased a new position in shares of Global Water Resources during the 4th quarter worth $123,000. Deutsche Bank AG lifted its position in Global Water Resources by 4,273.8% during the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 14,659 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Global Water Resources by 7.0% during the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 1,327 shares during the period. JPMorgan Chase & Co. increased its position 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 worth $264,000 after buying an additional 12,636 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock worth $282,000 after buying an additional 9,370 shares during the period. 27.91% of the stock is currently owned by institutional investors.

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.