Global Water Resources (GWRS) Declares $0.02 Dividend

Global Water Resources said on January 31, 2023 that its board of directors declared a regular monthly dividend of $0.02 per share ($0.30 annualized). Shareholders of record as of February 13, 2023 will receive the payment on February 28, 2023. Previously, the company paid $0.02 per share.

At the current share price of $14.23 / share, the stock's dividend yield is 2.09%. Looking back five years and taking a sample every week, the average dividend yield has been 2.38%, the lowest has been 1.46%, and the highest has been 3.33%. The standard deviation of yields is 0.50 (n=235).

The current dividend yield is 0.56 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 1.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 25.44% Upside

As of February 1, 2023, the average one-year price target for Global Water Resources is $17.85. The forecasts range from a low of $17.17 to a high of $18.90. The average price target represents an increase of 25.44% from its latest reported closing price of $14.23.

The projected annual revenue for Global Water Resources is $50MM, an increase of 14.91%. The projected annual EPS is $0.26, an increase of 15.94%.

Fund Sentiment

There are 165 funds or institutions reporting positions in Global Water Resources. This is a decrease of 5 owner(s) or 2.94%.

Average portfolio weight of all funds dedicated to US:GWRS is 0.0567%, a decrease of 2.0848%. Total shares owned by institutions increased in the last three months by 0.23% to 7,473K shares.

What are large shareholders doing?

Polar Asset Management Partners holds 1,481,077 shares representing 6.21% ownership of the company. In it's prior filing, the firm reported owning 1,318,437 shares, representing an increase of 10.98%. The firm increased its portfolio allocation in GWRS by 2.53% over the last quarter.

Handelsbanken Fonder AB holds 1,074,000 shares representing 4.50% ownership of the company. In it's prior filing, the firm reported owning 1,040,000 shares, representing an increase of 3.17%. The firm decreased its portfolio allocation in GWRS by 5.42% over the last quarter.

Handelsinvest Investeringsforvaltning holds 404,900 shares representing 1.70% ownership of the company. No change in the last quarter.

CLARET ASSET MANAGEMENT holds 281,212 shares representing 1.18% ownership of the company. In it's prior filing, the firm reported owning 282,872 shares, representing a decrease of 0.59%. The firm decreased its portfolio allocation in GWRS by 2.98% over the last quarter.

IWM - iShares Russell 2000 ETF holds 274,685 shares representing 1.15% ownership of the company. In it's prior filing, the firm reported owning 289,613 shares, representing a decrease of 5.43%. The firm decreased its portfolio allocation in GWRS by 8.79% over the last quarter.

Global Water Resources Background Information
(This description is provided by the company.)

Global Water Resources, Inc. is a leading water resource management company that owns and operates 12 utilities which provide water, wastewater, and recycled water services. The company's service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually. The company has been recognized for its highly-effective implementation of Total Water Management (TWM), an integrated approach to managing the entire water cycle by owning and operating water, wastewater and recycled water utilities within the same geographic area to maximize the beneficial use of recycled water. TWM conserves water by using the right water for the right use and helps protect water supplies in water-scarce areas experiencing population growth.

This story originally appeared on Fintel.