Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,054 shares of the company’s stock after acquiring an additional 3,046 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Essential Utilities worth $8,153,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC boosted its holdings in shares of Essential Utilities by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after buying an additional 325 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in shares of Essential Utilities by 52.9% in the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock valued at $36,000 after buying an additional 338 shares during the period. Hamilton Point Investment Advisors LLC boosted its holdings in shares of Essential Utilities by 0.5% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 69,788 shares of the company’s stock valued at $2,607,000 after buying an additional 342 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Essential Utilities by 9.3% in the first quarter. Fifth Third Bancorp now owns 4,258 shares of the company’s stock valued at $158,000 after buying an additional 364 shares during the period. Finally, Bank of New Hampshire boosted its holdings in shares of Essential Utilities by 13.0% in the fourth quarter. Bank of New Hampshire now owns 3,250 shares of the company’s stock valued at $121,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Robert A. Rubin sold 2,342 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now directly owns 13,358 shares in the company, valued at $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Essential Utilities Stock Performance

Shares of NYSE:WTRG traded up $2.22 during midday trading on Thursday, reaching $40.03. The company had a trading volume of 2,807,932 shares, compared to its average volume of 1,610,187. The stock has a market cap of $10.95 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.28 and a beta of 0.83. The company’s 50 day moving average price is $37.75 and its 200 day moving average price is $36.78. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $43.26.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The firm had revenue of $612.07 million during the quarter, compared to analysts’ expectations of $747.44 million. As a group, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.