Arcadia Investment Management Corp MI cut its stake in Aqua America, Inc. (NYSE:WTR) by 42.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,475 shares of the utilities provider’s stock after selling 5,500 shares during the period. Arcadia Investment Management Corp MI’s holdings in Aqua America were worth $249,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CAPROCK Group Inc. boosted its position in Aqua America by 0.4% in the second quarter. CAPROCK Group Inc. now owns 7,752 shares of the utilities provider’s stock valued at $258,000 after buying an additional 30 shares during the last quarter. IFP Advisors Inc boosted its position in Aqua America by 1.4% in the first quarter. IFP Advisors Inc now owns 3,892 shares of the utilities provider’s stock valued at $125,000 after buying an additional 53 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Aqua America by 0.9% in the first quarter. Wetherby Asset Management Inc. now owns 7,571 shares of the utilities provider’s stock valued at $244,000 after buying an additional 70 shares during the last quarter. CENTRAL TRUST Co boosted its position in Aqua America by 0.7% in the second quarter. CENTRAL TRUST Co now owns 10,124 shares of the utilities provider’s stock valued at $337,000 after buying an additional 71 shares during the last quarter. Finally, Utah Retirement Systems boosted its position in Aqua America by 0.3% in the first quarter. Utah Retirement Systems now owns 32,321 shares of the utilities provider’s stock valued at $1,039,000 after buying an additional 100 shares during the last quarter. 50.90% of the stock is owned by institutional investors.
Aqua America, Inc. (NYSE:WTR) opened at 33.78 on Wednesday. The company has a market cap of $6.00 billion, a PE ratio of 25.79 and a beta of 0.52. Aqua America, Inc. has a 52 week low of $28.03 and a 52 week high of $34.41. The company’s 50-day moving average price is $33.30 and its 200 day moving average price is $32.32.
Aqua America (NYSE:WTR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $203.40 million during the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. On average, analysts anticipate that Aqua America, Inc. will post $1.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be paid a $0.2047 dividend. This is a boost from Aqua America’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, August 14th. Aqua America’s dividend payout ratio (DPR) is 62.60%.
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Several research firms have recently issued reports on WTR. Northcoast Research began coverage on Aqua America in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. Zacks Investment Research cut Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, BidaskClub raised Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Aqua America has an average rating of “Hold” and an average target price of $32.25.
In other news, COO Richard Scott Fox sold 5,750 shares of Aqua America stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total value of $189,117.50. Following the completion of the sale, the chief operating officer now directly owns 18,788 shares of the company’s stock, valued at approximately $617,937.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Glanton sold 4,200 shares of Aqua America stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total value of $137,886.00. Following the completion of the sale, the director now directly owns 2,207 shares of the company’s stock, valued at $72,455.81. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
About Aqua America
Aqua America, Inc is a holding company. The Company is engaged in providing water or wastewater services concentrated in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is the holding company for its primary subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources, Inc (Aqua Resources) and Aqua Infrastructure, LLC (Aqua Infrastructure).
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