Magellan Asset Management Ltd cut its holdings in shares of Aqua America Inc (NYSE:WTR) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,878 shares of the utilities provider’s stock after selling 6,763 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of Aqua America worth $4,829,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of WTR. SG Americas Securities LLC lifted its position in Aqua America by 700.6% during the 3rd quarter. SG Americas Securities LLC now owns 795,275 shares of the utilities provider’s stock worth $29,346,000 after buying an additional 695,935 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in Aqua America by 6.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 5,395,134 shares of the utilities provider’s stock worth $199,080,000 after buying an additional 334,623 shares in the last quarter. BlackRock Inc. lifted its position in Aqua America by 2.0% during the 2nd quarter. BlackRock Inc. now owns 16,406,497 shares of the utilities provider’s stock worth $577,180,000 after buying an additional 319,413 shares in the last quarter. Renaissance Technologies LLC lifted its position in Aqua America by 258.9% during the 3rd quarter. Renaissance Technologies LLC now owns 222,600 shares of the utilities provider’s stock worth $8,214,000 after buying an additional 160,583 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Aqua America during the 2nd quarter worth about $5,474,000. 54.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Aqua America in a report on Monday, September 17th. They issued an “in-line” rating and a $37.00 target price on the stock. Zacks Investment Research cut shares of Aqua America from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Boenning Scattergood raised shares of Aqua America from a “neutral” rating to an “outperform” rating in a report on Monday, August 20th. ValuEngine raised shares of Aqua America from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Finally, Macquarie set a $35.00 target price on shares of Aqua America and gave the company a “hold” rating in a report on Thursday, October 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Aqua America currently has an average rating of “Hold” and an average price target of $38.29.
Shares of WTR stock opened at $34.25 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.46 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $6.09 billion, a PE ratio of 25.00, a PEG ratio of 4.54 and a beta of 0.53. Aqua America Inc has a 52-week low of $32.09 and a 52-week high of $39.55.
Aqua America (NYSE:WTR) last issued its earnings results on Monday, November 5th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $226.10 million for the quarter, compared to analysts’ expectations of $238.86 million. Aqua America had a net margin of 29.81% and a return on equity of 12.64%. Aqua America’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. As a group, equities analysts forecast that Aqua America Inc will post 1.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Friday, November 16th were issued a $0.219 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.56%. Aqua America’s payout ratio is 64.23%.
In related news, Director Daniel J. Hilferty III purchased 3,070 shares of the stock in a transaction on Thursday, November 15th. The shares were purchased 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chris Franklin purchased 25,421 shares of the stock in a transaction on Wednesday, November 14th. The stock was bought at an average cost of $32.86 per share, for a total transaction of $835,334.06. Following the completion of the acquisition, the chief executive officer now owns 144,368 shares in the company, valued at $4,743,932.48. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 34,637 shares of company stock worth $1,135,946. Insiders own 0.24% of the company’s stock.
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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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