Global Water Resources (NASDAQ:GWRS) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Global Water Resources, Inc. (NASDAQ:GWRS) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.70 and traded as low as $11.24. Global Water Resources shares last traded at $11.43, with a volume of 19,375 shares trading hands.

Global Water Resources Stock Performance

The business has a fifty day moving average of $12.70 and a 200 day moving average of $12.50. The company has a market cap of $276.86 million, a P/E ratio of 42.33, a P/E/G ratio of 2.95 and a beta of 0.96. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $14.32 million during the quarter, compared to analyst estimates of $14.65 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. During the same period in the prior year, the business earned $0.11 EPS. On average, equities analysts predict that Global Water Resources, Inc. will post 0.28 EPS for the current year.

Global Water Resources Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.0253 per share. This represents a $0.30 annualized dividend and a yield of 2.66%. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. The ex-dividend date is Monday, December 16th. Global Water Resources’s payout ratio is presently 111.11%.

Hedge Funds Weigh In On Global Water Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC increased its stake in shares of Global Water Resources by 4.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 26,268 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,055 shares in the last quarter. Barclays PLC increased its position in Global Water Resources by 89.3% during the 3rd quarter. Barclays PLC now owns 31,663 shares of the utilities provider’s stock valued at $400,000 after buying an additional 14,936 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Global Water Resources during the second quarter valued at $857,000. Panagora Asset Management Inc. boosted its holdings in Global Water Resources by 9.1% in the second quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 8,033 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Global Water Resources by 0.7% in the third quarter. State Street Corp now owns 220,872 shares of the utilities provider’s stock worth $2,781,000 after acquiring an additional 1,496 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.