Zacks Investment Research upgraded shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) from a sell rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “Year to dates shares of Consolidated Water Co. have gained higher than the industry. Consolidated Water Co. is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. Hurricane Irma has affected operations of the company’s water treatment plants due to power outages and will have an adverse impact on earnings in the third quarter. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”

Shares of Consolidated Water Co. (CWCO) remained flat at $12.95 on Wednesday. 26,964 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $12.52 and its 200 day moving average price is $12.24. The stock has a market capitalization of $192.95 million, a PE ratio of 65.40 and a beta of 0.91. Consolidated Water Co. has a 52 week low of $9.80 and a 52 week high of $13.50.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 2nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.30 annualized dividend and a dividend yield of 2.32%. Consolidated Water Co.’s dividend payout ratio (DPR) is 150.01%.

Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Consolidated Water Co. by 13.7% during the first quarter. Wells Fargo & Company MN now owns 31,462 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 3,779 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Consolidated Water Co. during the first quarter worth $196,000. Icon Advisers Inc. Co. lifted its position in shares of Consolidated Water Co. by 16.9% during the second quarter. Icon Advisers Inc. Co. now owns 131,042 shares of the utilities provider’s stock worth $1,625,000 after purchasing an additional 18,990 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Consolidated Water Co. by 51.7% during the second quarter. Russell Investments Group Ltd. now owns 71,163 shares of the utilities provider’s stock worth $882,000 after purchasing an additional 24,256 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Consolidated Water Co. by 10.5% during the fourth quarter. Teachers Advisors LLC now owns 23,541 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 2,233 shares during the last quarter. Institutional investors and hedge funds own 45.72% of the company’s stock.

Consolidated Water Co. Company Profile

Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.

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