Analysts Set $16.50 Target Price for Consolidated Water Co. Ltd. (CWCO)
Consolidated Water Co. Ltd. (NASDAQ:CWCO) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus target price of $16.50 for the company and are predicting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also assigned Consolidated Water an industry rank of 95 out of 255 based on the ratings given to its competitors.
A number of research analysts have recently commented on CWCO shares. ValuEngine raised Consolidated Water from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research lowered Consolidated Water from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, March 29th. Consolidated Water’s dividend payout ratio is 50.00%.
In other Consolidated Water news, Director Wilmer F. Pergande sold 2,383 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $12.78, for a total value of $30,454.74. Following the sale, the director now owns 27,580 shares of the company’s stock, valued at approximately $352,472.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clarence B. Flowers sold 7,393 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $12.54, for a total value of $92,708.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,237 shares of company stock worth $223,560. 2.53% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. grew its holdings in Consolidated Water by 8.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,147,381 shares of the utilities provider’s stock valued at $13,379,000 after buying an additional 89,192 shares during the last quarter. BlackRock Inc. grew its holdings in Consolidated Water by 3.8% in the 4th quarter. BlackRock Inc. now owns 836,911 shares of the utilities provider’s stock valued at $9,758,000 after buying an additional 30,836 shares during the last quarter. Morgan Stanley grew its holdings in Consolidated Water by 1.0% in the 3rd quarter. Morgan Stanley now owns 723,082 shares of the utilities provider’s stock valued at $10,014,000 after buying an additional 6,815 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Consolidated Water by 1.9% in the 3rd quarter. Renaissance Technologies LLC now owns 385,303 shares of the utilities provider’s stock valued at $5,336,000 after buying an additional 7,203 shares during the last quarter. Finally, Icon Advisers Inc. Co. grew its holdings in Consolidated Water by 45.4% in the 4th quarter. Icon Advisers Inc. Co. now owns 115,700 shares of the utilities provider’s stock valued at $1,349,000 after buying an additional 36,100 shares during the last quarter. 53.91% of the stock is currently owned by hedge funds and other institutional investors.
About Consolidated Water
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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