The Global Water Resources Inc. (GWRS) Upgraded by Zacks Investment Research to “Hold”

The Global Water Resources Inc. (GWRS) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Global Water Resources Inc. (NASDAQ:GWRS) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Separately, Roth Capital reiterated a buy rating and issued a $10.50 price target on shares of Global Water Resources in a research note on Monday, August 15th.

Global Water Resources (NASDAQ:GWRS) opened at 7.76 on Wednesday. Global Water Resources has a 1-year low of $6.23 and a 1-year high of $9.18. The stock has a 50 day moving average of $7.89 and a 200-day moving average of $7.86. The company has a market cap of $148.77 million and a PE ratio of 7.98.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.21.

The business also recently declared a monthly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a $0.022 dividend. The ex-dividend date is Thursday, October 13th. This represents a $0.26 dividend on an annualized basis and a yield of 3.39%.

In other Global Water Resources news, Director William S. Levine bought 10,917 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were purchased at an average price of $7.82 per share, for a total transaction of $85,370.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William S. Levine bought 10,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were acquired at an average price of $7.93 per share, for a total transaction of $79,300.00. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. acquired a new position in shares of Global Water Resources during the second quarter worth about $132,000. Connors Investor Services Inc. acquired a new position in shares of Global Water Resources during the second quarter worth about $220,000. Spark Investment Management LLC acquired a new position in shares of Global Water Resources during the second quarter worth about $231,000. Royal Bank of Canada acquired a new position in shares of Global Water Resources during the second quarter worth about $244,000. Finally, WFG Advisors LP acquired a new position in shares of Global Water Resources during the second quarter worth about $325,000. Hedge funds and other institutional investors own 14.52% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc is a water resource management company that provides water, wastewater and recycled water utility services. The Company owns and operates 16 water and wastewater utilities in strategically targeted communities in metropolitan Phoenix, Arizona. It serves more than 60,000 people in approximately 23,000 homes within its 378 square miles of service areas; 206 square miles have been certificated and are serviced by seven regulated operating subsidiaries.

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