Penobscot Investment Management Company Inc. raised its stake in shares of Aqua America, Inc. (NYSE:WTR) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,615 shares of the utilities provider’s stock after buying an additional 640 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Aqua America were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WTR. Teachers Advisors LLC increased its position in shares of Aqua America by 26.4% in the fourth quarter. Teachers Advisors LLC now owns 227,460 shares of the utilities provider’s stock valued at $6,833,000 after buying an additional 47,468 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Aqua America by 17.5% in the fourth quarter. Macquarie Group Ltd. now owns 51,700 shares of the utilities provider’s stock valued at $1,553,000 after buying an additional 7,700 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Aqua America by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 44,800 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 900 shares during the last quarter. Reliance Trust Co. of Delaware increased its position in shares of Aqua America by 44.9% in the first quarter. Reliance Trust Co. of Delaware now owns 12,345 shares of the utilities provider’s stock valued at $396,000 after buying an additional 3,825 shares during the last quarter. Finally, Rockland Trust Co. increased its position in shares of Aqua America by 6.1% in the first quarter. Rockland Trust Co. now owns 373,739 shares of the utilities provider’s stock valued at $12,016,000 after buying an additional 21,582 shares during the last quarter. Institutional investors and hedge funds own 50.90% of the company’s stock.

Aqua America, Inc. (NYSE:WTR) opened at 33.58 on Friday. Aqua America, Inc. has a 12 month low of $28.03 and a 12 month high of $34.41. The stock has a 50 day moving average price of $33.31 and a 200 day moving average price of $32.34. The stock has a market capitalization of $5.97 billion, a P/E ratio of 25.63 and a beta of 0.52.

Aqua America (NYSE:WTR) last posted its earnings results 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 return on equity of 12.51% and a net margin of 28.59%. The firm had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. During the same period last year, the firm earned $0.33 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts predict that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.2047 per share. The ex-dividend date is Monday, August 14th. This is a boost from Aqua America’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.44%. Aqua America’s dividend payout ratio (DPR) is 62.60%.

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Several equities analysts have recently commented on WTR shares. Northcoast Research started coverage on Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating on the stock. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Aqua America has an average rating of “Hold” and a consensus target price of $32.25.

In other news, COO Richard Scott Fox sold 5,750 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total transaction of $189,117.50. Following the sale, the chief operating officer now directly owns 18,788 shares in the company, valued at approximately $617,937.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Glanton sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total value of $137,886.00. Following the sale, the director now owns 2,207 shares in the company, valued at $72,455.81. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Aqua America (NYSE:WTR)

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