Global Water Resources (GWRS) Stock Rating Lowered by Zacks Investment Research
Global Water Resources (NASDAQ:GWRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Global Water Resources (NASDAQ GWRS) opened at $9.28 on Tuesday. The stock has a market capitalization of $181.00, a price-to-earnings ratio of 115.25, a P/E/G ratio of 6.83 and a beta of 0.19. The company has a debt-to-equity ratio of 8.55, a current ratio of 1.21 and a quick ratio of 1.21. Global Water Resources has a 52 week low of $7.90 and a 52 week high of $10.00.
Several large investors have recently bought and sold shares of GWRS. Rhumbline Advisers acquired a new stake in shares of Global Water Resources during the 2nd quarter valued at about $101,000. New York State Common Retirement Fund grew its position in shares of Global Water Resources by 857.5% during the 2nd quarter. New York State Common Retirement Fund now owns 11,500 shares of the utilities provider’s stock valued at $114,000 after acquiring an additional 10,299 shares during the period. Bank of America Corp DE grew its position in shares of Global Water Resources by 7.5% during the 1st quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 1,172 shares during the period. ELCO Management Co. LLC boosted its holdings in Global Water Resources by 13.0% in the 2nd quarter. ELCO Management Co. LLC now owns 17,659 shares of the utilities provider’s stock worth $175,000 after buying an additional 2,034 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Global Water Resources by 6.5% in the 2nd quarter. California State Teachers Retirement System now owns 17,958 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 16.82% of the company’s stock.
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Global Water Resources Company Profile
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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