Pictet Asset Management Ltd. Acquires 735,706 Shares of Aqua America, Inc. (NYSE:WTR)
Pictet Asset Management Ltd. raised its stake in shares of Aqua America, Inc. (NYSE:WTR) by 21.0% during the second quarter, Holdings Channel reports. The firm owned 4,246,581 shares of the utilities provider’s stock after buying an additional 735,706 shares during the period. Pictet Asset Management Ltd.’s holdings in Aqua America were worth $138,821,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC boosted its position in shares of Aqua America by 0.4% in the first quarter. NewSquare Capital LLC now owns 174,877 shares of the utilities provider’s stock valued at $5,622,000 after buying an additional 766 shares during the period. Reliance Trust Co. of Delaware boosted its position in shares of Aqua America by 44.9% in the first quarter. Reliance Trust Co. of Delaware now owns 12,345 shares of the utilities provider’s stock valued at $396,000 after buying an additional 3,825 shares during the period. National Investment Services Inc. WI acquired a new position in shares of Aqua America during the first quarter valued at about $2,230,000. Louisiana State Employees Retirement System boosted its position in shares of Aqua America by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 44,800 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 900 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Aqua America by 8.0% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 41,506 shares of the utilities provider’s stock valued at $1,334,000 after buying an additional 3,063 shares during the period. Hedge funds and other institutional investors own 50.90% of the company’s stock.
Shares of Aqua America, Inc. (WTR) opened at 33.71 on Monday. The stock’s 50 day moving average is $33.29 and its 200 day moving average is $32.05. The firm has a market capitalization of $5.99 billion, a PE ratio of 25.73 and a beta of 0.52. Aqua America, Inc. has a 52-week low of $28.03 and a 52-week high of $34.41.
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 Zacks’ consensus estimate of $0.34. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The company had revenue of $203.40 million during the quarter, compared to analyst estimates of $208.28 million. During the same period in the prior year, the business posted $0.33 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Aqua America, Inc. will post $1.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 16th will be issued a dividend of $0.2047 per share. This is a positive change from Aqua America’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, August 14th. Aqua America’s dividend payout ratio is currently 58.78%.
Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research cut shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Northcoast Research assumed coverage on shares of Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.25.
In related news, Director Richard H. Glanton sold 4,200 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total transaction of $137,886.00. Following the completion of the sale, the director now directly owns 2,207 shares in the company, valued at approximately $72,455.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Richard Scott Fox sold 5,750 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.89, for a total transaction of $189,117.50. Following the sale, the chief operating officer now owns 18,788 shares of the company’s stock, valued at $617,937.32. The disclosure for this sale can be found here. Corporate 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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