Consolidated Water (NASDAQ:CWCO) Director Sells $35,802.00 in Stock

Consolidated Water Director Wilmer Pergande sold 1,053 shares for $35,802, reducing his position by 2.83%. The stock traded at $33.98, up $0.47. The company reported strong earnings, beating estimates, and announced a quarterly dividend. Analysts have upgraded the stock to a 'Buy' rating with a price target of $40.00. Institutional investors have adjusted their positions, owning 55.16% of the stock.

Consolidated Water Co. Ltd. (NASDAQ:CWCO - Get Free Report) Director Wilmer Pergande sold 1,053 shares of Consolidated Water stock in a transaction on Monday, December 1st. The shares were sold at an average price of $34.00, for a total value of $35,802.00. Following the transaction, the director owned 36,183 shares in the company, valued at approximately $1,230,222. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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Consolidated Water Price Performance

Top 3 Utilities Stocks Powering Up as Recession Fears Rise

Shares of Consolidated Water stock traded up $0.47 during trading on Wednesday, hitting $33.98. The stock had a trading volume of 56,051 shares, compared to its average volume of 116,435. The firm has a market cap of $541.30 million, a P/E ratio of 35.03 and a beta of 0.50. The business has a fifty day moving average of $34.67 and a two-hundred day moving average of $31.93. Consolidated Water Co. Ltd. has a fifty-two week low of $22.69 and a fifty-two week high of $38.36.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last released its earnings results on Monday, November 10th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.10. Consolidated Water had a return on equity of 7.95% and a net margin of 12.90%.The firm had revenue of $35.12 million for the quarter, compared to analyst estimates of $32.90 million. As a group, research analysts forecast that Consolidated Water Co. Ltd. will post 1.27 earnings per share for the current year.

Consolidated Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 2nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. Consolidated Water's payout ratio is currently 57.73%.

Institutional Investors Weigh In On Consolidated Water

Hedge funds have recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Consolidated Water in the 2nd quarter worth approximately $30,000. Quarry LP purchased a new stake in shares of Consolidated Water in the third quarter valued at $40,000. Tower Research Capital LLC TRC lifted its holdings in shares of Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider's stock valued at $45,000 after purchasing an additional 1,165 shares in the last quarter. CWM LLC boosted its position in shares of Consolidated Water by 67.5% in the third quarter. CWM LLC now owns 2,045 shares of the utilities provider's stock worth $72,000 after buying an additional 824 shares during the period. Finally, Byrne Asset Management LLC grew its holdings in shares of Consolidated Water by 35.9% during the second quarter. Byrne Asset Management LLC now owns 2,254 shares of the utilities provider's stock valued at $68,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 55.16% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CWCO. Weiss Ratings raised shares of Consolidated Water from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Wall Street Zen raised Consolidated Water from a "hold" rating to a "buy" rating in a report on Sunday, November 16th. Finally, Roth Capital raised their price objective on Consolidated Water from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Consolidated Water presently has a consensus rating of "Buy" and an average price target of $40.00.

View Our Latest Analysis on CWCO

Consolidated Water Company Profile

(Get Free Report)

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.

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