State Treasurer State of Michigan lowered its stake in Aqua America, Inc. (NYSE:WTR) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,816 shares of the utilities provider’s stock after selling 6,400 shares during the quarter. State Treasurer State of Michigan’s holdings in Aqua America were worth $2,218,000 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 WTR. JPMorgan Chase & Co. lifted its position in Aqua America by 15.6% in the first quarter. JPMorgan Chase & Co. now owns 147,052 shares of the utilities provider’s stock valued at $4,727,000 after buying an additional 19,842 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Aqua America in the first quarter valued at about $211,000. Teachers Advisors LLC lifted its position in Aqua America by 3.9% in the first quarter. Teachers Advisors LLC now owns 236,225 shares of the utilities provider’s stock valued at $7,595,000 after buying an additional 8,765 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Aqua America by 10.4% in the first quarter. Thrivent Financial For Lutherans now owns 34,237 shares of the utilities provider’s stock valued at $1,100,000 after buying an additional 3,230 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Aqua America by 15.6% in the first quarter. Dimensional Fund Advisors LP now owns 752,519 shares of the utilities provider’s stock valued at $24,193,000 after buying an additional 101,689 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors.
Aqua America (NYSE:WTR) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $215.01 million for the quarter, compared to analyst estimates of $234.40 million. Aqua America had a return on equity of 12.49% and a net margin of 29.38%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS.
The company also recently disclosed a dec 17 dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.2047 dividend. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 16th. Aqua America’s dividend payout ratio is currently 61.65%.
In other news, insider Robert A. Rubin sold 12,499 shares of Aqua America stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.46, for a total value of $430,715.54. Following the transaction, the insider now directly owns 80,604 shares of the company’s stock, valued at approximately $2,777,613.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Robert W. Baird reissued a “hold” rating and set a $32.00 price target on shares of Aqua America in a research report on Wednesday. Boenning Scattergood reissued a “buy” rating and set a $43.00 price target on shares of Aqua America in a research report on Wednesday. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company raised shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Aqua America currently has a consensus rating of “Buy” and a consensus target price 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).
What are top analysts saying about Aqua America Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Aqua America Inc. and related companies.