Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on July 31st

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Tuesday, June 30th. Stockholders of record on Friday, July 17th will be paid a dividend of 0.0253 per share by the utilities provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, July 17th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.11 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 272.7%.

Global Water Resources Trading Up 0.3%

Shares of NASDAQ:GWRS opened at $7.26 on Thursday. The firm has a market cap of $208.80 million, a price-to-earnings ratio of 103.71 and a beta of 0.92. Global Water Resources has a 12 month low of $6.55 and a 12 month high of $11.17. The company’s fifty day simple moving average is $7.12 and its 200 day simple moving average is $7.91. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.59.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%. As a group, research analysts forecast that Global Water Resources will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Global Water Resources

In other Global Water Resources news, CFO Michael J. Liebman bought 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $6.89 per share, with a total value of $48,230.00. Following the completion of the transaction, the chief financial officer owned 7,000 shares in the company, valued at approximately $48,230. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher D. Krygier purchased 5,389 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $6.87 per share, for a total transaction of $37,022.43. Following the completion of the purchase, the chief operating officer directly owned 10,485 shares in the company, valued at approximately $72,031.95. The trade was a 105.75% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 53.70% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in Global Water Resources by 75,025.0% during the third quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Global Water Resources by 152.6% in the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Global Water Resources by 258.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 2,812 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Global Water Resources by 120.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,601 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Global Water Resources during the 4th quarter worth approximately $84,000. Institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.