Aqua America, Inc. (WTR) Position Cut by Alliancebernstein L.P.
Alliancebernstein L.P. reduced its position in shares of Aqua America, Inc. (NYSE:WTR) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,857 shares of the utilities provider’s stock after selling 17,399 shares during the period. Alliancebernstein L.P. owned 0.10% of Aqua America worth $5,923,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in WTR. UBS Asset Management Americas Inc. increased its position in Aqua America by 53.3% during the first quarter. UBS Asset Management Americas Inc. now owns 153,933 shares of the utilities provider’s stock worth $4,949,000 after purchasing an additional 53,537 shares during the last quarter. Sei Investments Co. increased its position in shares of Aqua America by 2.6% during the first quarter. Sei Investments Co. now owns 11,812 shares of the utilities provider’s stock valued at $380,000 after acquiring an additional 296 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Aqua America by 3.8% during the first quarter. Ameriprise Financial Inc. now owns 515,462 shares of the utilities provider’s stock valued at $16,571,000 after acquiring an additional 18,856 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Aqua America by 48.1% during the first quarter. Parametric Portfolio Associates LLC now owns 304,542 shares of the utilities provider’s stock valued at $9,791,000 after acquiring an additional 98,868 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Aqua America during the first quarter valued at about $208,000. Hedge funds and other institutional investors own 51.02% of the company’s stock.
WTR has been the subject of a number of recent analyst reports. Robert W. Baird reiterated a “hold” rating and set a $32.00 price target on shares of Aqua America in a research report on Friday, August 25th. BidaskClub cut shares of Aqua America from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Barclays PLC lifted their price target on shares of Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, September 22nd. Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Finally, Zacks Investment Research upgraded shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $34.67.
Shares of Aqua America, Inc. (NYSE WTR) opened at 33.19 on Friday. Aqua America, Inc. has a 12 month low of $28.03 and a 12 month high of $34.66. The firm has a market capitalization of $5.90 billion, a PE ratio of 25.34 and a beta of 0.53. The firm’s 50 day moving average is $33.80 and its 200-day moving average is $32.89.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The company had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.2047 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio is currently 62.60%.
In other news, insider Robert A. Rubin sold 12,499 shares of the company’s stock in a transaction dated 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 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 SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.
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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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