Federated Hermes Inc. Sells 405 Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO)

Federated Hermes Inc. cut its holdings in Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,813 shares of the utilities provider’s stock after selling 405 shares during the quarter. Federated Hermes Inc. owned 0.17% of Consolidated Water worth $712,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Precision Wealth Strategies LLC bought a new position in shares of Consolidated Water during the fourth quarter valued at $227,000. Campbell & CO Investment Adviser LLC bought a new position in Consolidated Water during the 4th quarter valued at about $629,000. Creekmur Asset Management LLC bought a new position in Consolidated Water during the 4th quarter valued at about $45,000. GoalVest Advisory LLC purchased a new stake in shares of Consolidated Water during the 1st quarter valued at about $29,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Consolidated Water by 35.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 68,058 shares of the utilities provider’s stock worth $1,995,000 after acquiring an additional 17,926 shares during the period. 55.16% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Water Stock Down 2.5 %

Shares of Consolidated Water stock opened at $25.66 on Monday. Consolidated Water Co. Ltd. has a twelve month low of $23.70 and a twelve month high of $38.29. The company has a market cap of $406.17 million, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.49 and a beta of 0.17. The company’s 50 day moving average is $27.12 and its 200 day moving average is $26.78.

Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings results on Wednesday, August 14th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.08). The firm had revenue of $32.48 million during the quarter, compared to analysts’ expectations of $37.12 million. Consolidated Water had a return on equity of 15.49% and a net margin of 23.26%. Sell-side analysts expect that Consolidated Water Co. Ltd. will post 1.25 EPS for the current fiscal year.

Consolidated Water Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.11 per share. This is an increase from Consolidated Water’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, October 1st. Consolidated Water’s payout ratio is currently 29.93%.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.