Aqua America, Inc. (WTR) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund raised its stake in Aqua America, Inc. (NYSE:WTR) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,000 shares of the utilities provider’s stock after buying an additional 4,399 shares during the period. New York State Common Retirement Fund owned 0.28% of Aqua America worth $16,650,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Aqua America by 2,818.7% during the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock worth $489,782,000 after buying an additional 14,712,330 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Aqua America by 6.9% during the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock worth $544,318,000 after buying an additional 1,095,878 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Aqua America by 21.0% during the second quarter. Pictet Asset Management Ltd. now owns 4,246,581 shares of the utilities provider’s stock worth $138,821,000 after buying an additional 735,706 shares in the last quarter. State Street Corp increased its holdings in shares of Aqua America by 4.6% during the first quarter. State Street Corp now owns 11,078,080 shares of the utilities provider’s stock worth $356,166,000 after buying an additional 482,723 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in shares of Aqua America by 159.2% during the second quarter. Kennedy Capital Management Inc. now owns 383,442 shares of the utilities provider’s stock worth $12,769,000 after buying an additional 235,530 shares in the last quarter. Hedge funds and other institutional investors own 51.02% of the company’s stock.
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Shares of Aqua America, Inc. (WTR) opened at 33.63 on Tuesday. The firm has a market capitalization of $5.97 billion, a P/E ratio of 25.67 and a beta of 0.54. The company’s 50-day moving average is $33.72 and its 200 day moving average is $33.05. Aqua America, Inc. has a 52-week low of $28.03 and a 52-week high of $34.66.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business had revenue of $203.40 million for the quarter, compared to the consensus estimate of $208.28 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
In other news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.46, for a total transaction of $430,715.54. Following the transaction, the insider now directly owns 80,604 shares in the company, valued at approximately $2,777,613.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on WTR. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price target on shares of Aqua America in a research note on Sunday. Barclays PLC boosted their price objective on Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. Boenning Scattergood restated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. BidaskClub raised Aqua America from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research raised Aqua America from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.67.
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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