Cambridge Investment Research Advisors Inc. Reduces Position in Aqua America, Inc. (WTR)
Cambridge Investment Research Advisors Inc. cut its position in shares of Aqua America, Inc. (NYSE:WTR) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,737 shares of the utilities provider’s stock after selling 3,549 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Aqua America were worth $1,186,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its stake in Aqua America by 10.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock valued at $149,000 after buying an additional 431 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Aqua America by 20.8% in the 2nd quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 809 shares during the last quarter. Barrett Asset Management LLC bought a new stake in shares of Aqua America in the 2nd quarter valued at approximately $197,000. Huntington National Bank lifted its stake in shares of Aqua America by 6.7% in the 2nd quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 375 shares during the last quarter. Finally, Private Vista LLC bought a new stake in shares of Aqua America in the 3rd quarter valued at approximately $205,000. 51.62% of the stock is owned by institutional investors.
Shares of Aqua America, Inc. (NYSE WTR) opened at $36.45 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.01. Aqua America, Inc. has a fifty-two week low of $29.24 and a fifty-two week high of $37.30. The firm has a market capitalization of $6,437.73, a P/E ratio of 27.24, a PEG ratio of 4.20 and a beta of 0.57.
Aqua America (NYSE:WTR) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Aqua America had a return on equity of 12.49% and a net margin of 29.38%. The firm had revenue of $215.01 million for the quarter, compared to the consensus estimate of $234.40 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. research analysts anticipate that Aqua America, Inc. will post 1.36 EPS for the current year.
The firm also recently declared a dec 17 dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.2047 dividend. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 2.3%. Aqua America’s payout ratio is 61.65%.
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Several equities research analysts have recently issued reports on WTR shares. BidaskClub raised Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Aqua America in a research note on Friday, August 25th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Aqua America in a research note on Tuesday, September 5th. Barclays PLC raised their price objective on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research raised Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.20.
In other news, VP David Smeltzer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $36.36, for a total value of $363,600.00. Following the sale, the vice president now directly owns 71,397 shares in the company, valued at $2,595,994.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $34.46, for a total value of $430,715.54. Following the completion of the sale, the insider now owns 80,604 shares in the company, valued at $2,777,613.84. The disclosure for this sale can be found here. Over the last quarter, insiders bought 75,500 shares of company stock worth $11,325. Company insiders own 0.25% of the company’s stock.
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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