Global Water Resources (NASDAQ:GWRS) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Global Water Resources (NASDAQ:GWRS – Get Rating) from a buy rating to a hold rating in a research note published on Tuesday morning.

Separately, TheStreet raised shares of Global Water Resources from a c+ rating to a b- rating in a research note on Thursday, January 19th.

Global Water Resources Price Performance

Shares of NASDAQ GWRS opened at $12.63 on Tuesday. The firm has a market cap of $301.48 million, a PE ratio of 57.41, a P/E/G ratio of 3.36 and a beta of 0.73. Global Water Resources has a 12-month low of $10.61 and a 12-month high of $17.35. The company’s fifty day simple moving average is $13.89 and its 200 day simple moving average is $13.19. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a $0.025 dividend. The ex-dividend date is Thursday, March 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.38%. Global Water Resources’s dividend payout ratio (DPR) is currently 136.37%.

Institutional Investors Weigh In On Global Water Resources

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Global Water Resources by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 107,767 shares of the utilities provider’s stock worth $1,794,000 after buying an additional 1,853 shares during the period. Dimensional Fund Advisors LP lifted its stake in Global Water Resources by 30.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 54,751 shares of the utilities provider’s stock valued at $911,000 after acquiring an additional 12,813 shares during the period. State Street Corp increased its position in shares of Global Water Resources by 1.8% during the 1st quarter. State Street Corp now owns 205,281 shares of the utilities provider’s stock valued at $3,416,000 after purchasing an additional 3,693 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Global Water Resources by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 28,485 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 1,123 shares during the last quarter. Finally, Select Equity Group L.P. purchased a new stake in shares of Global Water Resources during the 1st quarter valued at about $358,000. 29.25% of the stock is currently owned by institutional investors.

Global Water Resources Company Profile

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Global Water Resources, Inc engages in the operation and management of water, wastewater, and recycled water utilities. It also distributes recycled water throughout the communities through a separate system of pipes. The company was founded by Trevor T. Hill and William S. Levine on September 24, 2003 and is headquartered in Phoenix, AZ.