Royal Bank of Canada Trims Holdings in Aqua America, Inc. (WTR)
Royal Bank of Canada decreased its position in Aqua America, Inc. (NYSE:WTR) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,077 shares of the utilities provider’s stock after selling 46,401 shares during the quarter. Royal Bank of Canada owned 0.09% of Aqua America worth $5,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Boulegeris Investments Inc. increased its stake in Aqua America by 24.1% in the 2nd quarter. Boulegeris Investments Inc. now owns 17,754 shares of the utilities provider’s stock worth $591,000 after acquiring an additional 3,450 shares during the last quarter. Geode Capital Management LLC increased its stake in Aqua America by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 1,397,830 shares of the utilities provider’s stock worth $44,940,000 after acquiring an additional 95,204 shares during the last quarter. Blair William & Co. IL bought a new stake in Aqua America in the 2nd quarter worth approximately $832,000. Baillie Gifford & Co. increased its stake in Aqua America by 1.3% in the 2nd quarter. Baillie Gifford & Co. now owns 397,525 shares of the utilities provider’s stock worth $13,237,000 after acquiring an additional 5,207 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Aqua America by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock worth $544,318,000 after acquiring an additional 1,095,878 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on WTR. Wells Fargo & Company raised Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Thursday. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 target price on shares of Aqua America in a report on Sunday, October 1st. Barclays PLC lifted their target price on Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, September 22nd. Finally, Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a report on Tuesday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.00.
In related news, 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 of the company’s stock, valued at $2,777,613.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.
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Aqua America, Inc. (NYSE:WTR) opened at 36.02 on Friday. The stock has a market cap of $6.40 billion, a PE ratio of 27.50 and a beta of 0.54. Aqua America, Inc. has a one year low of $28.03 and a one year high of $36.27. The stock has a 50 day moving average price of $34.16 and a 200-day moving average price of $33.32.
Aqua America (NYSE:WTR) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the 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 during the quarter, compared to analysts’ expectations of $208.28 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
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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