Zacks Investment Research upgraded shares of Global Water Resources Inc. (NASDAQ:GWRS) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Separately, Roth Capital restated a buy rating and set a $10.50 target price on shares of Global Water Resources in a report on Monday, August 15th.

Shares of Global Water Resources (NASDAQ:GWRS) opened at 7.76 on Wednesday. The stock has a market cap of $148.77 million and a P/E ratio of 7.98. Global Water Resources has a 12 month low of $6.23 and a 12 month high of $9.18. The stock has a 50 day moving average price of $7.89 and a 200 day moving average price of $7.86.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Thursday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.21.

The company also recently announced a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a dividend of $0.022 per share. This represents a $0.26 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, October 13th.

In other Global Water Resources news, Director William S. Levine purchased 10,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The stock was purchased at an average price of $7.81 per share, for a total transaction of $78,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Levine purchased 10,917 shares of the business’s stock in a transaction on Friday, September 30th. The shares were acquired at an average price of $7.82 per share, with a total value of $85,370.94. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bard Associates Inc. purchased a new position in Global Water Resources during the second quarter worth about $1,492,000. State Street Corp purchased a new position in Global Water Resources during the second quarter worth about $456,000. Diker Management LLC purchased a new position in Global Water Resources during the second quarter worth about $416,000. WFG Advisors LP purchased a new position in Global Water Resources during the second quarter worth about $325,000. Finally, Royal Bank of Canada purchased a new position in Global Water Resources during the second quarter worth about $244,000. Hedge funds and other institutional investors own 14.52% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc is a water resource management company that provides water, wastewater and recycled water utility services. The Company owns and operates 16 water and wastewater utilities in strategically targeted communities in metropolitan Phoenix, Arizona. It serves more than 60,000 people in approximately 23,000 homes within its 378 square miles of service areas; 206 square miles have been certificated and are serviced by seven regulated operating subsidiaries.

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