StockNews.com Begins Coverage on Global Water Resources (NASDAQ:GWRS)

StockNews.com initiated coverage on shares of Global Water Resources (NASDAQ:GWRS – Get Rating) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the utilities provider’s stock.

Separately, TheStreet raised shares of Global Water Resources from a c+ rating to a b- rating in a research report on Thursday, January 19th.

Global Water Resources Stock Up 1.0 %

Shares of Global Water Resources stock opened at $12.72 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.40. The company’s fifty day simple moving average is $13.71 and its two-hundred day simple moving average is $13.12. The company has a market cap of $303.63 million, a P/E ratio of 53.00, a PEG ratio of 3.11 and a beta of 0.73. Global Water Resources has a 12-month low of $10.61 and a 12-month high of $17.35.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.025 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 16th. Global Water Resources’s dividend payout ratio (DPR) is presently 125.00%.

Insider Activity

In other Global Water Resources news, Director Andrew M. Cohn bought 2,362 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $12.13 per share, for a total transaction of $28,651.06. Following the acquisition, the director now owns 2,080,212 shares in the company, valued at approximately $25,232,971.56. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 45.10% of the company’s stock.

Institutional Trading of Global Water Resources

A number of hedge funds have recently modified their holdings of GWRS. BNP Paribas Arbitrage SA boosted its holdings in shares of Global Water Resources by 135.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the utilities provider’s stock valued at $41,000 after buying an additional 1,803 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its holdings in shares of Global Water Resources by 47.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock valued at $54,000 after buying an additional 1,477 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Global Water Resources by 649.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,664 shares of the utilities provider’s stock valued at $67,000 after buying an additional 4,908 shares in the last quarter. MetLife Investment Management LLC bought a new position in Global Water Resources in the 4th quarter worth about $95,000. Finally, Bank of America Corp DE boosted its stake in Global Water Resources by 144.4% in the 4th quarter. Bank of America Corp DE now owns 14,985 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 8,853 shares in the last quarter. Institutional investors own 29.25% of the company’s stock.

Global Water Resources Company Profile

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Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.