Traders Buy Aqua America Inc. (WTR) on Weakness
Traders purchased shares of Aqua America Inc. (NYSE:WTR) on weakness during trading hours on Wednesday. $15.58 million flowed into the stock on the tick-up and $3.63 million flowed out of the stock on the tick-down, for a money net flow of $11.95 million into the stock. Of all companies tracked, Aqua America had the 23rd highest net in-flow for the day. Aqua America traded down ($0.30) for the day and closed at $34.21
Several brokerages have recently commented on WTR. US Capital Advisors reaffirmed a “hold” rating on shares of Aqua America in a research note on Tuesday, April 19th. Barclays PLC boosted their price objective on Aqua America from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, May 5th. Finally, Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Aqua America presently has an average rating of “Hold” and an average price target of $32.06.
The firm has a 50 day moving average of $34.29 and a 200 day moving average of $32.21. The company has a market cap of $6.06 billion and a P/E ratio of 29.52.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $198.59 million. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. Analysts expect that Aqua America Inc. will post $1.33 earnings per share for the current year.
In other news, CEO Chris Franklin sold 17,243 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $32.83, for a total transaction of $566,087.69. Following the sale, the chief executive officer now owns 89,794 shares in the company, valued at $2,947,937.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Smeltzer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $32.55, for a total value of $651,000.00. Following the sale, the chief financial officer now owns 75,696 shares in the company, valued at approximately $2,463,904.80. The disclosure for this sale can be found here.
Several large investors have bought and sold shares of the company. Agran Libbie boosted its stake in Aqua America by 9,899.8% in the fourth quarter. Agran Libbie now owns 9,071,801 shares of the company’s stock valued at $2,703,000 after buying an additional 8,981,081 shares during the period. Victory Capital Management Inc. boosted its stake in Aqua America by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 33,800 shares of the company’s stock valued at $1,007,000 after buying an additional 784 shares during the period. Principal Financial Group Inc. boosted its stake in Aqua America by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 556,721 shares of the company’s stock valued at $16,590,000 after buying an additional 20,041 shares during the period. Wells Fargo & Company MN boosted its stake in Aqua America by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 377,698 shares of the company’s stock valued at $11,255,000 after buying an additional 5,171 shares during the period. Finally, Bank of Montreal Can boosted its stake in Aqua America by 1.4% in the fourth quarter. Bank of Montreal Can now owns 79,657 shares of the company’s stock valued at $2,373,000 after buying an additional 1,127 shares during the period.
Aqua America, Inc is a holding company. The Company, through its subsidiaries, provides water or wastewater services in Pennsylvania, New Jersey, Indiana and Virginia, among others. It is the holding company for its subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources Inc and Aqua Infrastructure, LLC.
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