Federated Hermes Inc. Sells 405 Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO)

Federated Hermes Inc. cut its stake in shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,813 shares of the utilities provider’s stock after selling 405 shares during the quarter. Federated Hermes Inc.’s holdings in Consolidated Water were worth $712,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Consolidated Water by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 323,906 shares of the utilities provider’s stock valued at $9,494,000 after acquiring an additional 9,837 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Consolidated Water during the fourth quarter valued at approximately $629,000. Bank of New York Mellon Corp boosted its position in shares of Consolidated Water by 36.0% in the second quarter. Bank of New York Mellon Corp now owns 76,702 shares of the utilities provider’s stock worth $2,036,000 after purchasing an additional 20,315 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in shares of Consolidated Water in the second quarter worth $524,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Consolidated Water during the 1st quarter valued at $445,000. Institutional investors own 55.16% of the company’s stock.

Consolidated Water Stock Performance

Shares of Consolidated Water stock opened at $25.66 on Monday. Consolidated Water Co. Ltd. has a fifty-two week low of $23.70 and a fifty-two week high of $38.29. The company has a market capitalization of $406.17 million, a P/E ratio of 17.46, a P/E/G ratio of 2.49 and a beta of 0.17. The company has a fifty day moving average of $27.12 and a 200 day moving average of $26.78.

Consolidated Water (NASDAQ:CWCO) last released its earnings results on Wednesday, August 14th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.08). Consolidated Water had a return on equity of 15.49% and a net margin of 23.26%. The business had revenue of $32.48 million for the quarter, compared to analysts’ expectations of $37.12 million. Analysts forecast that Consolidated Water Co. Ltd. will post 1.25 EPS for the current year.

Consolidated Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.44 annualized dividend and a dividend yield of 1.71%. This is a boost from Consolidated Water’s previous quarterly dividend of $0.10. Consolidated Water’s dividend payout ratio (DPR) is presently 29.93%.

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.