Global Water Resources (NASDAQ:GWRS) Stock Price Crosses Below 50-Day Moving Average of $12.38

Shares of Global Water Resources, Inc. (NASDAQ:GWRS) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.38 and traded as low as $12.10. Global Water Resources shares last traded at $12.85, with a volume of 19,197 shares trading hands.

Global Water Resources Stock Performance

The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $311.23 million, a P/E ratio of 49.42, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97. The business’s 50 day simple moving average is $12.39 and its two-hundred day simple moving average is $12.47.

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

Global Water Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.025 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, September 16th. Global Water Resources’s payout ratio is 115.39%.

Institutional Trading of Global Water Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in shares of Global Water Resources by 2.6% in the 2nd quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock worth $2,909,000 after purchasing an additional 6,000 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Global Water Resources by 9.1% in the second 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. Vanguard Group Inc. grew its holdings in shares of Global Water Resources by 1.3% in the first 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 period. Manchester Capital Management LLC grew its holdings in shares of Global Water Resources by 70.7% in the fourth quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock worth $642,000 after acquiring an additional 20,325 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in shares of Global Water Resources by 15.8% in the first quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock worth $3,016,000 after acquiring an additional 32,100 shares during the period. Institutional investors own 27.91% of the company’s stock.

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.