According to Zacks, “In last 12 months, Consolidated Water's shares have underperformed its industry. The company is exposed to negative foreign exchange fluctuation could adversely impact performance. Fluctuation in weather conditions and risks of contamination of its processed water are other headwinds. However, Consolidated Water is 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. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, and the Bahamas. Year to date, shares of the company have outperformed the industry it belongs to.”
Separately, ValuEngine upgraded shares of Consolidated Water from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.
In other Consolidated Water news, Director Wilmer F. Pergande sold 2,383 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $12.78, for a total transaction of $30,454.74. Following the transaction, the director now owns 27,580 shares in the company, valued at approximately $352,472.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Clarence B. Flowers sold 6,603 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $13.50, for a total transaction of $89,140.50. Following the transaction, the director now owns 21,873 shares in the company, valued at approximately $295,285.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,844 shares of company stock worth $130,852. Company insiders own 2.53% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CWCO. Whittier Trust Co. acquired a new stake in Consolidated Water in the fourth quarter valued at approximately $117,000. Denali Advisors LLC acquired a new stake in Consolidated Water in the first quarter valued at approximately $127,000. FDx Advisors Inc. acquired a new stake in Consolidated Water in the fourth quarter valued at approximately $128,000. Prudential Financial Inc. boosted its position in Consolidated Water by 10.5% in the fourth quarter. Prudential Financial Inc. now owns 13,258 shares of the utilities provider’s stock valued at $155,000 after buying an additional 1,258 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Consolidated Water by 9.1% in the fourth quarter. LPL Financial LLC now owns 13,436 shares of the utilities provider’s stock valued at $157,000 after buying an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 53.91% of the company’s stock.
About Consolidated Water
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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