Global Water Resources (NASDAQ:GWRS) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Global Water Resources, Inc. (NASDAQ:GWRS) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.54 and traded as low as $12.36. Global Water Resources shares last traded at $12.37, with a volume of 8,959 shares changing hands.

Global Water Resources Trading Down 1.3 %

The firm has a market cap of $299.06 million, a price-to-earnings ratio of 47.58, a P/E/G ratio of 2.99 and a beta of 0.97. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.86 and a quick ratio of 1.86. The business has a 50-day moving average of $12.54 and a 200-day moving average of $12.47.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $13.51 million for the quarter, compared to the consensus estimate of $13.60 million. Global Water Resources had a return on equity of 13.45% and a net margin of 11.91%. During the same quarter in the prior year, the company earned $0.07 EPS. Research analysts anticipate that Global Water Resources, Inc. will post 0.27 EPS for the current year.

Global Water Resources Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be given a dividend of $0.025 per share. This represents a $0.30 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, October 17th. Global Water Resources’s dividend payout ratio (DPR) is currently 115.38%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Dynamic Advisor Solutions LLC grew its holdings in Global Water Resources by 4.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 26,268 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,055 shares during the period. Renaissance Technologies LLC raised its stake in Global Water Resources by 2.6% in the second quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock valued at $2,909,000 after buying an additional 6,000 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of Global Water Resources in the second quarter valued at approximately $857,000. Panagora Asset Management Inc. boosted its stake in shares of Global Water Resources by 9.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 8,033 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Global Water Resources by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock worth $8,709,000 after acquiring an additional 8,960 shares during the last quarter. 27.91% of the stock is currently owned by institutional investors and hedge funds.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.