Aqua America, Inc. (WTR) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its stake in Aqua America, Inc. (NYSE:WTR) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 657,378 shares of the utilities provider’s stock after buying an additional 49,584 shares during the period. Legal & General Group Plc owned about 0.37% of Aqua America worth $21,891,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Suntrust Banks Inc. increased its position in shares of Aqua America by 12.5% in the first quarter. Suntrust Banks Inc. now owns 18,420 shares of the utilities provider’s stock valued at $591,000 after buying an additional 2,052 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Aqua America by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 2,640,998 shares of the utilities provider’s stock valued at $84,907,000 after buying an additional 109,809 shares in the last quarter. AT Bancorp acquired a new position in shares of Aqua America during the first quarter valued at approximately $203,000. First Trust Advisors LP increased its position in shares of Aqua America by 6.9% in the first quarter. First Trust Advisors LP now owns 814,082 shares of the utilities provider’s stock valued at $26,173,000 after buying an additional 52,770 shares in the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Aqua America by 1.0% in the first quarter. State Treasurer State of Michigan now owns 72,116 shares of the utilities provider’s stock valued at $2,319,000 after buying an additional 700 shares in the last quarter. Institutional investors own 51.04% of the company’s stock.
Aqua America, Inc. (NYSE WTR) opened at 33.53 on Friday. The stock’s 50 day moving average price is $33.57 and its 200 day moving average price is $32.63. Aqua America, Inc. has a 52 week low of $28.03 and a 52 week high of $34.41. The company has a market capitalization of $5.96 billion, a P/E ratio of 25.60 and a beta of 0.52.
Aqua America (NYSE:WTR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. Aqua America’s revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. Analysts anticipate that Aqua America, Inc. will post $1.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were given a dividend of $0.2047 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, August 14th. Aqua America’s dividend payout ratio (DPR) is presently 62.60%.
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Several brokerages have recently commented on WTR. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Robert W. Baird reiterated a “hold” rating and set a $32.00 target price on shares of Aqua America in a research note on Friday, August 25th. Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Northcoast Research began coverage on Aqua America in a research note on Thursday, May 25th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Aqua America currently has a consensus rating of “Hold” and a consensus target price of $32.25.
In related news, Director Richard H. Glanton sold 4,200 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $32.83, for a total transaction of $137,886.00. Following the completion of the sale, the director now directly owns 2,207 shares of the company’s stock, valued at $72,455.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Richard Scott Fox sold 5,750 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $32.89, for a total value of $189,117.50. Following the sale, the chief operating officer now directly owns 18,788 shares of the company’s stock, valued at $617,937.32. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Aqua America Company 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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