Comerica Bank reduced its position in Aqua America Inc (NYSE:WTR) by 15.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,933 shares of the utilities provider’s stock after selling 21,510 shares during the period. Comerica Bank owned approximately 0.06% of Aqua America worth $3,989,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC increased its holdings in Aqua America by 37.6% in the 3rd quarter. Private Advisor Group LLC now owns 60,374 shares of the utilities provider’s stock worth $2,228,000 after acquiring an additional 16,501 shares during the last quarter. First Personal Financial Services increased its holdings in Aqua America by 33.5% in the 3rd quarter. First Personal Financial Services now owns 34,079 shares of the utilities provider’s stock worth $1,258,000 after acquiring an additional 8,555 shares during the last quarter. Robecosam AG increased its holdings in Aqua America by 3.2% in the 3rd quarter. Robecosam AG now owns 190,795 shares of the utilities provider’s stock worth $6,968,000 after acquiring an additional 5,869 shares during the last quarter. Arizona State Retirement System increased its holdings in Aqua America by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 126,328 shares of the utilities provider’s stock worth $4,662,000 after acquiring an additional 2,817 shares during the last quarter. Finally, CWM LLC increased its holdings in Aqua America by 4,960.0% in the 3rd quarter. CWM LLC now owns 9,614 shares of the utilities provider’s stock worth $355,000 after acquiring an additional 9,424 shares during the last quarter. Institutional investors own 54.49% of the company’s stock.
Several equities research analysts recently weighed in on WTR shares. Boenning Scattergood reissued a “hold” rating on shares of Aqua America in a report on Thursday, August 2nd. ValuEngine raised Aqua America from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Evercore ISI started coverage on Aqua America in a report on Monday, September 17th. They issued an “in-line” rating and a $37.00 price objective for the company. Zacks Investment Research lowered Aqua America from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Macquarie set a $35.00 target price on Aqua America and gave the company a “hold” rating in a report on Thursday, October 25th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Aqua America has a consensus rating of “Hold” and an average price target of $38.29.
WTR stock opened at $33.07 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.52 and a debt-to-equity ratio of 1.11. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 4.32 and a beta of 0.50. Aqua America Inc has a twelve month low of $32.09 and a twelve month high of $39.55.
Aqua America (NYSE:WTR) last posted its earnings results on Monday, November 5th. The utilities provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $226.10 million during the quarter, compared to analyst estimates of $238.86 million. Aqua America had a return on equity of 12.64% and a net margin of 29.81%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Sell-side analysts expect that Aqua America Inc will post 1.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 16th will be issued a dividend of $0.219 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 15th. Aqua America’s payout ratio is presently 64.23%.
In related news, insider Daniel Schuller bought 3,050 shares of Aqua America stock in a transaction on Wednesday, November 14th. The stock was acquired at an average price of $32.96 per share, with a total value of $100,528.00. Following the acquisition, the insider now directly owns 20,783 shares of the company’s stock, valued at $685,007.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Hilferty III bought 3,070 shares of Aqua America stock in a transaction on Thursday, November 15th. The shares were bought at an average cost of $32.55 per share, with a total value of $99,928.50. Following the acquisition, the director now directly owns 10,544 shares in the company, valued at $343,207.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,637 shares of company stock valued at $1,135,946 in the last ninety days. Insiders own 0.24% of the company’s stock.
About Aqua America
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water and wastewater services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry.
Further Reading: Why is the ex-dividend date different from the record date?
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