Global Water Resources Inc. (NASDAQ:GWRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $9.25 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 14.06% from the company’s previous close.

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 reiterated a “buy” rating and issued a $10.50 price objective on shares of Global Water Resources in a report on Monday, August 15th.

Shares of Global Water Resources (NASDAQ:GWRS) opened at 8.11 on Friday. The firm has a 50-day moving average price of $7.80 and a 200-day moving average price of $7.91. The stock’s market capitalization is $158.80 million. Global Water Resources has a 1-year low of $6.23 and a 1-year high of $9.18.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Monday, November 14th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. Global Water Resources had a positive return on equity of 3.75% and a negative net margin of 9.40%. The company had revenue of $8.20 million for the quarter, compared to the consensus estimate of $8.10 million.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be issued a $0.0225 dividend. This represents a $0.27 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, December 13th. This is an increase from Global Water Resources’s previous monthly dividend of $0.02.

In related news, Director William S. Levine bought 10,917 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average cost of $7.82 per share, with a total value of $85,370.94. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William S. Levine bought 10,000 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were bought at an average cost of $7.81 per share, with a total value of $78,100.00. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. bought a new position in Global Water Resources during the second quarter valued at approximately $1,492,000. Connors Investor Services Inc. bought a new position in Global Water Resources during the second quarter valued at approximately $220,000. WFG Advisors LP bought a new position in Global Water Resources during the second quarter valued at approximately $325,000. Spark Investment Management LLC bought a new position in Global Water Resources during the second quarter valued at approximately $231,000. Finally, State Street Corp bought a new position in Global Water Resources during the second quarter valued at approximately $456,000. 18.38% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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