Benjamin F. Edwards & Company Inc. lowered its position in Aqua America Inc (NYSE:WTR) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,991 shares of the utilities provider’s stock after selling 600 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Aqua America were worth $179,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. 6 Meridian increased its position in shares of Aqua America by 1.8% during the second quarter. 6 Meridian now owns 14,182 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 244 shares during the last quarter. Haverford Trust Co. grew its position in shares of Aqua America by 1.1% in the second quarter. Haverford Trust Co. now owns 23,885 shares of the utilities provider’s stock valued at $988,000 after purchasing an additional 250 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Aqua America by 0.8% in the second quarter. Clear Harbor Asset Management LLC now owns 37,058 shares of the utilities provider’s stock valued at $1,533,000 after purchasing an additional 286 shares in the last quarter. State Treasurer State of Michigan grew its position in shares of Aqua America by 0.5% in the second quarter. State Treasurer State of Michigan now owns 63,816 shares of the utilities provider’s stock valued at $2,640,000 after purchasing an additional 300 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in Aqua America by 3.2% during the third quarter. CENTRAL TRUST Co now owns 12,471 shares of the utilities provider’s stock valued at $559,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 65.46% of the company’s stock.
In other Aqua America news, Director Daniel J. Hilferty III purchased 1,152 shares of the business’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $43.38 per share, for a total transaction of $49,973.76. Following the purchase, the director now owns 9,872 shares of the company’s stock, valued at approximately $428,247.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $259.99 million. Aqua America had a return on equity of 8.81% and a net margin of 18.02%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts anticipate that Aqua America Inc will post 1.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.2343 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.94 annualized dividend and a dividend yield of 2.16%. Aqua America’s dividend payout ratio (DPR) is 66.67%.
Several equities research analysts recently issued reports on the company. Janney Montgomery Scott lifted their price objective on Aqua America from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Co set a $47.00 price target on Aqua America and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Evercore ISI reaffirmed a “hold” rating and set a $37.00 price target on shares of Aqua America in a research note on Sunday, August 11th. Argus boosted their target price on Aqua America to $50.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group lowered Aqua America from a “buy” rating to a “neutral” rating and boosted their target price for the company from $42.00 to $45.00 in a research note on Thursday, August 8th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.09.
About Aqua America
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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