Consolidated Water Co. Ltd. (NASDAQ:CWCO) Declares $0.14 Quarterly Dividend

Consolidated Water Co. Ltd. (NASDAQ:CWCO) declared a quarterly dividend on Thursday, August 20th. Shareholders of record on Thursday, October 1st will be paid a dividend of 0.14 per share by the utilities provider on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, October 1st.

Consolidated Water has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Consolidated Water has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Water to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 39.7%.

Consolidated Water Trading Down 0.7%

NASDAQ CWCO opened at $29.49 on Friday. The company has a fifty day simple moving average of $29.65 and a two-hundred day simple moving average of $32.12. The stock has a market cap of $472.13 million, a P/E ratio of 35.53 and a beta of 0.51. Consolidated Water has a 12-month low of $28.17 and a 12-month high of $39.12.

Consolidated Water (NASDAQ:CWCO) last announced its quarterly earnings data on Monday, August 10th. The utilities provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $30.60 million. Consolidated Water had a net margin of 12.66% and a return on equity of 7.23%. As a group, sell-side analysts forecast that Consolidated Water will post 0.96 earnings per share for the current year.

Institutional Trading of Consolidated Water

A number of hedge funds and other institutional investors have recently made changes to their positions in CWCO. Oppenheimer & Co. Inc. boosted its holdings in Consolidated Water by 4.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 7,023 shares of the utilities provider’s stock worth $248,000 after buying an additional 304 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Consolidated Water by 4.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,961 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 422 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Consolidated Water by 3.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,121 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 571 shares during the period. State of Wyoming raised its holdings in Consolidated Water by 6.0% in the 2nd quarter. State of Wyoming now owns 11,243 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 632 shares during the period. Finally, Trexquant Investment LP grew its holdings in Consolidated Water by 1.4% in the fourth quarter. Trexquant Investment LP now owns 47,162 shares of the utilities provider’s stock valued at $1,664,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.