Fenimore Asset Management Inc. reduced its stake in Aqua America Inc (NYSE:WTR) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 636,688 shares of the utilities provider’s stock after selling 4,825 shares during the period. Fenimore Asset Management Inc.’s holdings in Aqua America were worth $24,977,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of WTR. Lord Abbett & CO. LLC purchased a new stake in Aqua America in the 2nd quarter valued at $17,807,000. WINTON GROUP Ltd purchased a new stake in Aqua America in the 3rd quarter valued at $6,917,000. Legacy Advisors LLC purchased a new stake in Aqua America in the 3rd quarter valued at $6,310,000. Pictet Asset Management Ltd. grew its holdings in Aqua America by 4.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 4,427,248 shares of the utilities provider’s stock valued at $146,940,000 after buying an additional 180,667 shares in the last quarter. Finally, KBC Group NV grew its holdings in Aqua America by 78.5% in the 3rd quarter. KBC Group NV now owns 354,500 shares of the utilities provider’s stock valued at $11,766,000 after buying an additional 155,860 shares in the last quarter. Institutional investors own 51.69% of the company’s stock.
Several analysts have issued reports on WTR shares. Wells Fargo & Co upgraded Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Thursday, October 19th. Hilliard Lyons upgraded Aqua America from an “underperform” rating to a “neutral” rating in a report on Thursday, December 21st. Argus increased their price target on Aqua America from $37.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Zacks Investment Research upgraded Aqua America from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, January 15th. Finally, Robert W. Baird reiterated a “hold” rating and set a $32.00 price target on shares of Aqua America in a report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Aqua America presently has a consensus rating of “Buy” and a consensus target price of $39.17.
The firm also recently declared a mar 18 dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 16th will be issued a dividend of $0.2047 per share. This represents a dividend yield of 0.00579722458227131%. The ex-dividend date is Thursday, February 15th. Aqua America’s dividend payout ratio is presently 61.65%.
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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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