Motco Has $5.43 Million Position in Aqua America, Inc. (WTR)
Motco reduced its position in shares of Aqua America, Inc. (NYSE:WTR) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,980 shares of the utilities provider’s stock after selling 877 shares during the period. Motco owned 0.09% of Aqua America worth $5,427,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Virginia Retirement Systems ET AL bought a new stake in shares of Aqua America during the first quarter valued at approximately $919,000. Geode Capital Management LLC increased its stake in shares of Aqua America by 7.3% in the first quarter. Geode Capital Management LLC now owns 1,397,830 shares of the utilities provider’s stock valued at $44,940,000 after buying an additional 95,204 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Aqua America by 25.0% in the first quarter. Legal & General Group Plc now owns 607,794 shares of the utilities provider’s stock valued at $19,540,000 after buying an additional 121,405 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Aqua America by 6.9% in the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock valued at $544,318,000 after buying an additional 1,095,878 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Aqua America by 13.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 69,171 shares of the utilities provider’s stock valued at $2,224,000 after buying an additional 8,265 shares during the last quarter. 51.04% of the stock is owned by institutional investors.
Shares of Aqua America, Inc. (NYSE WTR) traded down 0.09% during mid-day trading on Tuesday, hitting $33.84. 42,717 shares of the company traded hands. The firm has a 50-day moving average of $33.43 and a 200-day moving average of $32.50. Aqua America, Inc. has a one year low of $28.03 and a one year high of $34.41. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 25.83 and a beta of 0.52.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business 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%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. On average, equities analysts predict that Aqua America, Inc. will post $1.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.2047 per share. This is an increase 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 2.42%. The ex-dividend date is Monday, August 14th. Aqua America’s payout ratio is currently 62.60%.
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Several analysts recently commented on the stock. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Aqua America in a report on Friday. Zacks Investment Research downgraded shares of Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Northcoast Research assumed coverage on shares of Aqua America in a report on Thursday, May 25th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.25.
In other Aqua America news, COO Richard Scott Fox sold 5,750 shares of the business’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 completion of 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 filing with the SEC, which is available at the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the business’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 of the company’s stock, valued at $72,455.81. The disclosure for this sale can be found here. 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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