Bright Rock Capital Management LLC reduced its position in Aqua America, Inc. (NYSE:WTR) by 8.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,500 shares of the utilities provider’s stock after selling 18,000 shares during the period. Aqua America accounts for about 1.8% of Bright Rock Capital Management LLC’s portfolio, making the stock its 13th largest position. Bright Rock Capital Management LLC owned approximately 0.11% of Aqua America worth $6,356,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Aqua America by 10.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock valued at $149,000 after buying an additional 431 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Aqua America by 20.8% in the 2nd quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock valued at $157,000 after buying an additional 809 shares in the last quarter. Barrett Asset Management LLC bought a new stake in shares of Aqua America in the 2nd quarter valued at about $197,000. Huntington National Bank boosted its holdings in shares of Aqua America by 6.7% in the 2nd quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock valued at $199,000 after buying an additional 375 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Aqua America in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 50.96% of the company’s stock.
In other news, insider Robert A. Rubin sold 12,499 shares of Aqua America stock in a transaction that occurred on 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 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.
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Shares of Aqua America, Inc. (NYSE WTR) traded up $0.15 during midday trading on Monday, reaching $36.18. 128,151 shares of the company’s stock traded hands, compared to its average volume of 512,176. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.48 and a current ratio of 0.55. The firm has a market capitalization of $6,402.19, a price-to-earnings ratio of 27.09, a PEG ratio of 4.18 and a beta of 0.57.
Aqua America (NYSE:WTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Aqua America had a net margin of 29.38% and a return on equity of 12.49%. The business had revenue of $215.01 million during the quarter, compared to analysts’ expectations of $234.40 million. During the same period in the previous year, the business posted $0.41 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that Aqua America, Inc. will post 1.36 earnings per share for the current year.
The firm also recently disclosed a dec 17 dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.2047 per share. This represents a yield of 2.3%. The ex-dividend date is Thursday, November 16th. Aqua America’s payout ratio is 61.65%.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Boenning Scattergood reiterated a “buy” rating and issued a $43.00 target price on shares of Aqua America in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Aqua America from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, October 3rd. Robert W. Baird reiterated a “hold” rating and issued a $32.00 target price on shares of Aqua America in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company upgraded shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Aqua America has a consensus rating of “Buy” and an average target price of $38.20.
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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