Global Water Resources, Inc. (NASDAQ:GWRS) shares hit a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as $9.97 and last traded at $9.97, with a volume of 2,564 shares traded. The stock had previously closed at $9.90.
The newly announced dividend which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be paid a $0.023 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.90%. Global Water Resources’s dividend payout ratio is currently -215.38%.
GWRS has been the topic of a number of recent research reports. Zacks Investment Research raised Global Water Resources from a “sell” rating to a “hold” rating in a research note on Monday, April 17th. Roth Capital set a $11.00 target price on Global Water Resources and gave the stock a “buy” rating in a research note on Saturday, May 27th.
The stock’s 50-day moving average price is $9.73 and its 200 day moving average price is $8.98. The firm’s market cap is $186.41 million.
In other Global Water Resources news, Director L Rita Theil sold 25,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $9.23, for a total value of $230,750.00. Following the sale, the director now directly owns 2,666 shares in the company, valued at $24,607.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William S. Levine purchased 20,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $171,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 20,501 shares of company stock worth $175,824.
A number of hedge funds have recently bought and sold shares of GWRS. North Star Investment Management Corp. boosted its stake in Global Water Resources by 11.2% in the second quarter. North Star Investment Management Corp. now owns 104,275 shares of the utilities provider’s stock worth $1,032,000 after buying an additional 10,500 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Global Water Resources during the second quarter worth $773,000. HighTower Advisors LLC acquired a new stake in Global Water Resources during the first quarter worth $171,000. Bank of America Corp DE boosted its stake in Global Water Resources by 7.5% in the first quarter. Bank of America Corp DE now owns 16,708 shares of the utilities provider’s stock worth $145,000 after buying an additional 1,172 shares in the last quarter. Finally, Bard Associates Inc. boosted its stake in Global Water Resources by 8.7% in the first quarter. Bard Associates Inc. now owns 201,325 shares of the utilities provider’s stock worth $1,752,000 after buying an additional 16,100 shares in the last quarter. Institutional investors own 16.77% of the company’s stock.
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Global Water Resources Company Profile
Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.
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