Consolidated Water (NASDAQ:CWCO) Lowered to Neutral at Janney Montgomery Scott

Janney Montgomery Scott cut shares of Consolidated Water (NASDAQ:CWCOGet Rating) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other equities research analysts have also issued reports on CWCO. TheStreet raised shares of Consolidated Water from a c+ rating to a b- rating in a report on Wednesday, June 8th. StockNews.com raised shares of Consolidated Water from a buy rating to a strong-buy rating in a report on Tuesday, August 23rd.

Consolidated Water Stock Down 9.4 %

CWCO stock opened at $17.89 on Wednesday. Consolidated Water has a 52 week low of $9.01 and a 52 week high of $20.58. The firm’s fifty day moving average is $15.55 and its 200 day moving average is $13.20.

Consolidated Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 3rd will be given a $0.085 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $0.34 annualized dividend and a dividend yield of 1.90%.

Insider Transactions at Consolidated Water

In other news, Director Clarence B. Flowers sold 3,430 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.46, for a total value of $56,457.80. Following the completion of the sale, the director now directly owns 300,476 shares of the company’s stock, valued at approximately $4,945,834.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. ELCO Management Co. LLC lifted its position in Consolidated Water by 7.2% during the 2nd quarter. ELCO Management Co. LLC now owns 18,149 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 1,214 shares during the period. Bank of America Corp DE lifted its position in Consolidated Water by 11.2% during the 1st quarter. Bank of America Corp DE now owns 22,901 shares of the utilities provider’s stock valued at $253,000 after acquiring an additional 2,304 shares during the period. Byrne Asset Management LLC purchased a new position in Consolidated Water during the 4th quarter valued at about $26,000. Abundance Wealth Counselors lifted its position in Consolidated Water by 13.9% during the 2nd quarter. Abundance Wealth Counselors now owns 21,020 shares of the utilities provider’s stock valued at $305,000 after acquiring an additional 2,558 shares during the period. Finally, Scotia Capital Inc. raised its holdings in Consolidated Water by 8.3% in the second quarter. Scotia Capital Inc. now owns 33,404 shares of the utilities provider’s stock worth $484,000 after buying an additional 2,573 shares during the last quarter. 46.34% of the stock is owned by hedge funds and other institutional investors.

About Consolidated Water

(Get Rating)

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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