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In a recent transaction involving Global Water Resources, Inc. (NASDAQ:GWRS), Director Andrew M. Cohn purchased a significant amount of the company’s common stock. The Form 4 filing with the Securities and Exchange Commission reveals that Cohn acquired 252,000 shares at a price of $10 per share, totaling $2.52 million. The purchase price sits near the stock’s 52-week low of $9.79, though InvestingPro analysis suggests the stock is slightly overvalued at current levels. The company maintains impressive gross profit margins of 74% and offers a 2.95% dividend yield, having raised its dividend for nine consecutive years. This purchase was made on March 27, 2025, as part of a public offering. Following this transaction, Cohn directly owns 2,379,899 shares of the company. Additionally, he has indirect ownership of 42,150 shares through a family relationship, where he shares voting and dispositive power. For deeper insights into GWRS’s valuation metrics and financial health, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed analysis of the company’s fundamentals and growth prospects among 1,400+ top US stocks.
In other recent news, Global Water Resources announced its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) expectations but exceeding revenue forecasts. The company’s EPS was $0.04, falling short of the projected $0.06, while revenue reached $13.29 million, surpassing the anticipated $12.7 million. Additionally, Global Water Resources has set a monthly cash dividend of $0.02533 per common share, translating to an annual rate of $0.30396 per share. The company also initiated a public stock offering, pricing 2.8 million shares at $10 each, aiming to raise approximately $28 million. Roth Capital Partners (WA:CPAP) and Janney Montgomery Scott are underwriting this offering, with proceeds intended for acquisitions and general corporate purposes. Furthermore, Global Water Resources filed applications with the Arizona Corporation Commission for water and wastewater rate increases, potentially boosting net annual revenue by about $6.5 million. The company plans to implement these rate hikes in two phases, starting in May 2026. These developments highlight Global Water Resources’ strategic financial maneuvers and ongoing infrastructure investments.
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