Cordasco Financial Network Maintains Stake in Aqua America, Inc. (WTR)
Cordasco Financial Network held its position in Aqua America, Inc. (NYSE:WTR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,406 shares of the company’s stock at the end of the third quarter. Aqua America makes up about 0.8% of Cordasco Financial Network’s holdings, making the stock its 25th largest position. Cordasco Financial Network’s holdings in Aqua America were worth $692,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WTR. Wells Fargo & Company MN increased its position in Aqua America by 2.1% in the third quarter. Wells Fargo & Company MN now owns 439,916 shares of the company’s stock worth $13,409,000 after buying an additional 9,136 shares in the last quarter. World Asset Management Inc increased its position in Aqua America by 33.7% in the third quarter. World Asset Management Inc now owns 11,574 shares of the company’s stock worth $353,000 after buying an additional 2,918 shares in the last quarter. Rockland Trust Co. increased its position in Aqua America by 3.7% in the third quarter. Rockland Trust Co. now owns 245,700 shares of the company’s stock worth $7,489,000 after buying an additional 8,683 shares in the last quarter. Bright Rock Capital Management LLC increased its position in Aqua America by 1.3% in the third quarter. Bright Rock Capital Management LLC now owns 126,500 shares of the company’s stock worth $3,856,000 after buying an additional 1,600 shares in the last quarter. Finally, Concert Wealth Management Inc. increased its position in Aqua America by 3.5% in the third quarter. Concert Wealth Management Inc. now owns 18,270 shares of the company’s stock worth $558,000 after buying an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 47.96% of the company’s stock.
Aqua America, Inc. (NYSE:WTR) traded up 0.63% during mid-day trading on Friday, reaching $30.28. The company had a trading volume of 372,834 shares. The stock has a 50-day moving average of $30.14 and a 200 day moving average of $31.16. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 25.23 and a beta of 0.44. Aqua America, Inc. has a 12-month low of $28.03 and a 12-month high of $35.83.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Aqua America had a return on equity of 13.19% and a net margin of 25.97%. The business had revenue of $226.60 million for the quarter, compared to the consensus estimate of $223.61 million. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Aqua America, Inc. will post $1.32 EPS for the current year.
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Several research analysts have recently commented on the company. Zacks Investment Research downgraded Aqua America from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird assumed coverage on Aqua America in a research note on Friday, October 14th. They set a “neutral” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Aqua America currently has an average rating of “Hold” and a consensus target price of $32.50.
Aqua America Company Profile
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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