Southwest Water investors buy more shares, suggest company cut costs

By Lisa Kerner

Charlotte, N.C., March 2 - A group of Southwest Water Co. investors led by Stobie Creek Investments LLC bought 1,046,170 shares of the company's stock between Dec. 22 and Feb. 19 at prices from $2.80 to $5.49 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

The investors believe that there are "substantial opportunities" for Southwest Water to improve its operations by reducing "exposure to unregulated operations with inconsistent profitability" and controlling overhead costs, the filing said.

Stobie Creek and its affiliates beneficially own 1,235,002 shares, or 5%, of the company's outstanding stock.

Los Angeles-based Southwest Water provides water, waste water and public works services primarily in the United States.

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