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Highlights
- Global Water Resources (TSX: GWR) and H2O Innovation Inc (TSXV: HEO) are upticking in the stock market amid the growth predictions of the global water and wastewater industry.
- A study by Research and Markets on December 14, 2021, suggested that the global water industry will expand by over five per cent to $ 806.14 billion in 2022.
- Climate change has revitalized the significance of sustainable water and wastewater solutions to lead a healthy future.
Stocks of Global Water Resources (TSX: GWR) and H2O Innovation Inc (TSXV: HEO) are gaining attention in the stock markets amid the growth predictions of the global water and wastewater industry.
A study by Research and Markets from December 2021 suggests that the global water industry is expected to expand by over five per cent to US$ 806.14 billion in 2022.
This estimate includes industrial and municipal segments, considering 2021 as the base year.
On that note, let us discuss the two TSX-listed water stocks that are drawing investors’ attention.
1. Global Water Resources Inc (TSX: GWR)
Stocks of Global Water Resources closed at C$ 20.27 per share on Tuesday, January 11. It is set for a monthly dividend payout of US$ 0.025 per share on January 31, which has an ex-dividend date of January 14.
The Arizona-headquartered water resource manager generated a revenue of US$ 11.4 million in the third quarter of fiscal 2021, as compared to that of US$ 10.76 million a year ago.
Global Water Resources saw its net income soar by 32.4 per cent year-over-year (YoY) to US$ 1.5 million in the latest quarter.
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The water company also disclosed on December 13 last year that it is set to purchase Arizona, US-based water utility firm Farmers Water Co to expand its footprints.
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2. H2O Innovation Inc (TSXV: HEO)
H2O Innovation Inc renewed its operation and maintenance (O&M) contract with Mississippi and extended it to four years in December last year, which drove its total O&M backlog to $86.8 million.
The water treatment company, which leverages membrane filtration technology, has also recently acquired JCO Inc and Environmental Consultants to strengthen its operation and maintenance business in North America.
The Quebec City-based water solution provider saw its revenue stand at C$ 38.4 million in the first quarter of fiscal 2022, which was up by 9.7 per cent YoY.
Scrips of H2O Innovation closed at C$ 2.65 apiece on Tuesday, returning nearly 20 per cent in the last six months.
Also read: Suncor (TSX:SU) & TC Energy (TSX:TRP): 2 oil & gas stocks to buy now
Bottom line
Climate change has revitalized the significance of sustainable water and wastewater solutions to lead a healthy future. New developments in water-based technology and process can gain momentum in the long run.
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Kajal Jain - Analyst618 PostsKajal is a commerce graduate with expertise in the financial corporate sector. At Kalkine, she writes on Canadian equities and markets. In her free time, she enjoys music and gardening and likes to travel....
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Shreya Biswas - Multimedia Journalist408 PostsShreya Biswas is a multimedia journalist with a degree from the Asian College of Journalism. Previously a literature student-turned-political reporter, she now writes on market trends at Kalkine Media. When not chasing deadlines, she enjoys bloggin...