Consolidated Water (NASDAQ:CWCO) Shares Gap Up to $30.52

Consolidated Water Co. Ltd. (NASDAQ:CWCO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $30.52, but opened at $32.43. Consolidated Water shares last traded at $34.19, with a volume of 135,615 shares.

Analysts Set New Price Targets

CWCO has been the subject of several analyst reports. Janney Montgomery Scott upgraded shares of Consolidated Water from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $28.00 in a research report on Monday, August 14th. StockNews.com initiated coverage on shares of Consolidated Water in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Consolidated Water Stock Performance

The firm’s 50 day moving average is $29.86 and its two-hundred day moving average is $24.31.

Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings data on Thursday, August 10th. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.25. Consolidated Water had a net margin of 13.69% and a return on equity of 13.64%. The business had revenue of $44.24 million for the quarter, compared to analyst estimates of $30.27 million. On average, analysts forecast that Consolidated Water Co. Ltd. will post 1.48 earnings per share for the current fiscal year.

Consolidated Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 2nd were paid a dividend of $0.095 per share. This is a positive change from Consolidated Water’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.38 annualized dividend and a yield of 1.12%.

Insider Buying and Selling

In other Consolidated Water news, Director Raymond Whittaker sold 4,815 shares of Consolidated Water stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $25.67, for a total value of $123,601.05. Following the transaction, the director now owns 3,949 shares of the company’s stock, valued at $101,370.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC lifted its stake in Consolidated Water by 2.3% in the second quarter. Ellsworth Advisors LLC now owns 27,343 shares of the utilities provider’s stock valued at $663,000 after buying an additional 625 shares in the last quarter. Wasatch Advisors LP bought a new position in Consolidated Water in the second quarter valued at approximately $3,776,000. American International Group Inc. bought a new position in Consolidated Water in the second quarter valued at approximately $175,000. Strs Ohio bought a new stake in shares of Consolidated Water in the second quarter worth $586,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Consolidated Water in the second quarter worth $25,000. Institutional investors own 52.87% of the company’s stock.

Consolidated Water Company Profile

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.