Royce & Associates LP Cuts Stock Holdings in Global Water Resources, Inc. (NASDAQ:GWRS)

Royce & Associates LP lowered its position in Global Water Resources, Inc. (NASDAQ:GWRS) by 71.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 30,044 shares of the utilities provider’s stock after selling 75,956 shares during the period. Royce & Associates LP’s holdings in Global Water Resources were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in shares of Global Water Resources by 4,273.8% during the 4th quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 14,659 shares in the last quarter. Rhumbline Advisers increased its stake in Global Water Resources by 12.0% during the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 1,884 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Global Water Resources by 7.0% in the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock worth $232,000 after buying an additional 1,327 shares during the last quarter. Bank of America Corp DE raised its holdings in Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock worth $282,000 after buying an additional 9,370 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Global Water Resources by 87.8% during the 4th quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 12,654 shares during the last quarter. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Global Water Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Global Water Resources Price Performance

NASDAQ GWRS opened at $9.81 on Wednesday. The stock has a market capitalization of $269.28 million, a price-to-earnings ratio of 42.65, a PEG ratio of 3.13 and a beta of 1.03. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.55 and a quick ratio of 1.55. Global Water Resources, Inc. has a 1-year low of $9.37 and a 1-year high of $13.98. The business’s fifty day moving average price is $10.31 and its 200-day moving average price is $10.70.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Global Water Resources had a return on equity of 11.27% and a net margin of 10.63%. The business had revenue of $12.46 million during the quarter, compared to the consensus estimate of $12.00 million. On average, equities analysts predict that Global Water Resources, Inc. will post 0.28 earnings per share for the current year.

Global Water Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th will be issued a dividend of $0.0253 per share. This represents a $0.30 annualized dividend and a yield of 3.10%. The ex-dividend date is Thursday, July 17th. Global Water Resources’s dividend payout ratio is presently 130.43%.

Global Water Resources Company Profile

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.