1ST Source Bank cut its position in shares of Aqua America, Inc. (NYSE:WTR) by 32.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,239 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. 1ST Source Bank’s holdings in Aqua America were worth $207,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of WTR. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Aqua America by 10.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock worth $149,000 after buying an additional 431 shares in the last quarter. IFP Advisors Inc boosted its position in Aqua America by 20.8% during the second quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 809 shares during the last quarter. Barrett Asset Management LLC acquired a new position in Aqua America during the second quarter valued at approximately $197,000. Huntington National Bank boosted its position in Aqua America by 6.7% during the second quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 375 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in Aqua America during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 50.81% of the company’s stock.
In other news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $34.46, for a total transaction of $430,715.54. Following the completion of the sale, the insider now directly owns 80,604 shares in the company, valued at $2,777,613.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Aqua America, Inc. (WTR) opened at 35.345 on Wednesday. Aqua America, Inc. has a 52 week low of $28.03 and a 52 week high of $36.27. The stock has a 50 day moving average price of $34.46 and a 200-day moving average price of $33.48. The firm has a market capitalization of $6.28 billion, a P/E ratio of 26.981 and a beta of 0.54.
Aqua America (NYSE:WTR) last posted its earnings results on Monday, October 30th. The utilities provider reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The company had revenue of $215.01 million during the quarter, compared to analyst estimates of $234.40 million. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. Aqua America’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Analysts anticipate that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The company also recently announced a dec 17 dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $0.2047 per share. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 2.3%. Aqua America’s dividend payout ratio is currently 62.60%.
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A number of analysts have recently issued reports on the company. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. BidaskClub lowered Aqua America from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Wells Fargo & Company upgraded Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Thursday, October 19th. Boenning Scattergood restated a “buy” rating and set a $43.00 price objective on shares of Aqua America in a research note on Wednesday. Finally, Robert W. Baird restated a “hold” rating and set a $32.00 price objective on shares of Aqua America in a research note on Friday, August 25th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $38.20.
Aqua America Profile
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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