Consolidated Water Co. Ltd. (CWCO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) from a buy rating to a hold rating in a research report report published on Tuesday, August 1st.

According to Zacks, “Year to date shares of Consolidated Water Co. returned higher than the broader industry.  The company  is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. Consolidated Water Co.’s performance could be adversely impacted by weather variations and risk of contamination of water sources. In addition, risk of losing major customer accounts or failure to renew long term contracts with major customers as well as foreign exchange fluctuation are other headwinds for the company.”

Separately, TheStreet upgraded shares of Consolidated Water Co. from a c+ rating to a b- rating in a research note on Monday, April 24th.

Consolidated Water Co. (NASDAQ CWCO) opened at 12.40 on Tuesday. The firm has a market capitalization of $184.76 million, a P/E ratio of 62.63 and a beta of 0.87. Consolidated Water Co. has a 1-year low of $9.80 and a 1-year high of $13.35. The company has a 50-day moving average price of $12.64 and a 200-day moving average price of $11.68.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 3rd were paid a $0.075 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.30 annualized dividend and a dividend yield of 2.42%. Consolidated Water Co.’s payout ratio is 150.01%.

Several hedge funds have recently bought and sold shares of CWCO. Parametric Portfolio Associates LLC purchased 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 during the last quarter. Icon Advisers Inc. Co. purchased a new stake in Consolidated Water Co. during the first quarter valued at about $1,305,000. RMB Capital Management LLC purchased a new stake in Consolidated Water Co. during the first quarter valued at about $1,166,000. Finally, LSV Asset Management purchased a new stake in Consolidated Water Co. during the first quarter valued at about $997,000. Hedge funds and other institutional investors own 51.42% of the company’s stock.

About Consolidated Water Co.

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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