Northwestern Mutual Investment Management Company LLC boosted its holdings in Aqua America Inc (NYSE:WTR) by 56.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,371 shares of the utilities provider’s stock after purchasing an additional 13,100 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Aqua America were worth $1,239,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Community Bank N.A. boosted its holdings in Aqua America by 122.4% in the first quarter. Community Bank N.A. now owns 5,170 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 2,845 shares during the last quarter. Sigma Planning Corp acquired a new stake in Aqua America during the fourth quarter valued at approximately $200,000. First Republic Investment Management Inc. acquired a new stake in Aqua America during the fourth quarter valued at approximately $244,000. ING Groep NV acquired a new stake in Aqua America during the fourth quarter valued at approximately $267,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Aqua America by 46.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 9,265 shares of the utilities provider’s stock valued at $316,000 after buying an additional 2,917 shares in the last quarter. 54.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Aqua America opened at $33.86 on Tuesday, Marketbeat reports. Aqua America Inc has a twelve month low of $32.30 and a twelve month 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. The company has a market cap of $5.96 billion, a PE ratio of 24.72, a P/E/G ratio of 4.49 and a beta of 0.44.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Tuesday, May 8th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. Aqua America had a net margin of 29.59% and a return on equity of 12.60%. The firm had revenue of $194.30 million for the quarter, compared to the consensus estimate of $193.19 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts expect that Aqua America Inc will post 1.4 EPS for the current year.
The business also recently disclosed a jun 18 dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 18th were issued a dividend of $0.2047 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a dividend yield of 2.35%. Aqua America’s dividend payout ratio (DPR) is currently 59.85%.
Several analysts have issued reports on the company. ValuEngine upgraded Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Boenning Scattergood restated a “neutral” rating on shares of Aqua America in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating in a research note on Friday. UBS Group assumed coverage on Aqua America in a research note on Thursday, March 8th. They set a “neutral” rating and a $36.00 price objective on the stock. Finally, Wells Fargo & Co cut Aqua America from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $43.00 to $37.00 in a research note on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $38.29.
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.
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