Coastline Trust Co Lowers Stake in Aqua America Inc (WTR)
Coastline Trust Co cut its holdings in Aqua America Inc (NYSE:WTR) by 17.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,880 shares of the utilities provider’s stock after selling 16,662 shares during the quarter. Coastline Trust Co’s holdings in Aqua America were worth $2,585,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Investment Centers of America Inc. boosted its holdings in Aqua America by 0.4% during the second quarter. Investment Centers of America Inc. now owns 7,009 shares of the utilities provider’s stock worth $233,000 after buying an additional 27 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in Aqua America by 0.8% during the second quarter. Suntrust Banks Inc. now owns 18,574 shares of the utilities provider’s stock worth $618,000 after buying an additional 154 shares during the last quarter. ELCO Management Co. LLC boosted its holdings in Aqua America by 1.5% during the second quarter. ELCO Management Co. LLC now owns 11,056 shares of the utilities provider’s stock worth $368,000 after buying an additional 166 shares during the last quarter. Utah Retirement Systems boosted its holdings in Aqua America by 0.6% during the second quarter. Utah Retirement Systems now owns 32,521 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 200 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Aqua America by 1.8% during the second quarter. Teacher Retirement System of Texas now owns 14,140 shares of the utilities provider’s stock worth $471,000 after buying an additional 244 shares during the last quarter. Institutional investors own 51.70% of the company’s stock.
WTR has been the topic of a number of recent analyst reports. Robert W. Baird restated a “hold” rating and set a $32.00 target price on shares of Aqua America in a report on Friday, August 25th. Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a report on Tuesday, September 5th. Barclays lifted their price objective on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Zacks Investment Research upgraded Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Wells Fargo & Company upgraded Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.67.
In other Aqua America news, VP David Smeltzer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $36.36, for a total transaction of $363,600.00. Following the transaction, the vice president now owns 71,397 shares of the company’s stock, valued at approximately $2,595,994.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 75,500 shares of company stock worth $11,325 in the last ninety days. Insiders own 0.25% of the company’s stock.
Aqua America Inc (WTR) traded up $0.32 during midday trading on Thursday, reaching $37.59. The company’s stock had a trading volume of 557,000 shares, compared to its average volume of 551,153. The company has a market cap of $6,622.53, a PE ratio of 28.02, a price-to-earnings-growth ratio of 4.98 and a beta of 0.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.55 and a quick ratio of 0.48. Aqua America Inc has a 12-month low of $29.41 and a 12-month high of $38.20.
Aqua America (NYSE:WTR) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $215.01 million for the quarter, compared to analysts’ expectations of $234.40 million. Aqua America had a return on equity of 12.49% and a net margin of 29.38%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. sell-side analysts forecast that Aqua America Inc will post 1.36 earnings per share for the current fiscal year.
The business also recently declared a dec 17 dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a dividend of $0.2047 per share. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, November 16th. Aqua America’s dividend payout ratio (DPR) is 61.65%.
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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