Cannell Peter B & Co. Inc. reduced its stake in shares of Aqua America (NYSE:WTR) by 17.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,875 shares of the utilities provider’s stock after selling 2,300 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Aqua America were worth $370,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Aqua America by 7.9% during the first quarter. Northern Trust Corp now owns 2,071,439 shares of the utilities provider’s stock valued at $70,553,000 after buying an additional 151,778 shares in the last quarter. KBC Group NV grew its position in shares of Aqua America by 26.7% in the first quarter. KBC Group NV now owns 607,499 shares of the utilities provider’s stock valued at $20,691,000 after purchasing an additional 128,032 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Aqua America in the first quarter valued at about $799,000. Haverford Trust Co. grew its position in shares of Aqua America by 10.5% in the first quarter. Haverford Trust Co. now owns 20,530 shares of the utilities provider’s stock valued at $699,000 after purchasing an additional 1,951 shares during the last quarter. Finally, Boulegeris Investments Inc. grew its position in shares of Aqua America by 9.7% in the first quarter. Boulegeris Investments Inc. now owns 20,899 shares of the utilities provider’s stock valued at $712,000 after purchasing an additional 1,845 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.
Several equities research analysts have recently issued reports on the company. ValuEngine raised Aqua America from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Wells Fargo & Co downgraded Aqua America from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $43.00 to $37.00 in a research report on Monday, February 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Aqua America in a research report on Wednesday, May 9th. Finally, UBS assumed coverage on Aqua America in a research report on Thursday, March 8th. They issued a “neutral” rating and a $36.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $38.29.
Shares of NYSE:WTR opened at $33.76 on Wednesday. The stock has a market capitalization of $5.93 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 4.32 and a beta of 0.44. Aqua America has a 52-week low of $31.94 and a 52-week high of $39.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.42 and a current ratio of 0.48.
Aqua America (NYSE:WTR) last released its earnings results on Tuesday, May 8th. The utilities provider reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Aqua America had a return on equity of 12.60% and a net margin of 29.59%. The business had revenue of $194.30 million for the quarter, compared to the consensus estimate of $193.19 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. sell-side analysts predict that Aqua America will post 1.4 earnings per share for the current year.
The company also recently announced a jun 18 dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be given a dividend of $0.2047 per share. This represents a yield of 2.35%. The ex-dividend date is Thursday, May 17th. Aqua America’s dividend payout ratio (DPR) is presently 59.85%.
Aqua America Profile
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.
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