NJ State Employees Deferred Compensation Plan continued to hold its stake in Consolidated Water Co. Ltd. (NASDAQ:CWCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the utilities provider’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan owned approximately 0.27% of Consolidated Water Co. worth $496,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. First Manhattan Co. raised its stake in Consolidated Water Co. by 0.5% in the first quarter. First Manhattan Co. now owns 697,213 shares of the utilities provider’s stock valued at $8,101,000 after buying an additional 3,800 shares in the last quarter. Uniplan Investment Counsel Inc. raised its stake in Consolidated Water Co. by 5.2% in the first quarter. Uniplan Investment Counsel Inc. now owns 468,226 shares of the utilities provider’s stock valued at $5,454,000 after buying an additional 22,947 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in Consolidated Water Co. during the first quarter valued at about $3,982,000. Ameriprise Financial Inc. raised its stake in Consolidated Water Co. by 261.5% in the first quarter. Ameriprise Financial Inc. now owns 242,780 shares of the utilities provider’s stock valued at $2,827,000 after buying an additional 175,619 shares in the last quarter. Finally, State Street Corp raised its position in shares of Consolidated Water Co. by 6.1% in the fourth quarter. State Street Corp now owns 175,638 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 10,061 shares during the period. Institutional investors and hedge funds own 51.42% of the company’s stock.
Shares of Consolidated Water Co. Ltd. (CWCO) traded up 3.77% during midday trading on Friday, hitting $12.40. The company’s stock had a trading volume of 38,258 shares. The firm has a market cap of $184.76 million, a P/E ratio of 62.63 and a beta of 0.87. The stock’s 50 day moving average is $12.64 and its 200-day moving average is $11.68. Consolidated Water Co. Ltd. has a 52-week low of $9.80 and a 52-week high of $13.35.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 3rd were issued a $0.075 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.30 annualized dividend and a dividend yield of 2.42%. Consolidated Water Co.’s dividend payout ratio is currently 150.01%.
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A number of equities analysts have recently weighed in on CWCO shares. TheStreet upgraded Consolidated Water Co. from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Zacks Investment Research downgraded Consolidated Water Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.
Consolidated Water Co. Company Profile
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
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