Aqua America, Inc. (NYSE:WTR) Stake Reduced by Adirondack Trust Co.
Adirondack Trust Co. cut its stake in Aqua America, Inc. (NYSE:WTR) by 33.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,890 shares of the utilities provider’s stock after selling 6,950 shares during the period. Adirondack Trust Co.’s holdings in Aqua America were worth $462,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Aqua America by 26.4% in the fourth quarter. Teachers Advisors LLC now owns 227,460 shares of the utilities provider’s stock valued at $6,833,000 after buying an additional 47,468 shares in the last quarter. Macquarie Group Ltd. increased its position in Aqua America by 17.5% in the fourth quarter. Macquarie Group Ltd. now owns 51,700 shares of the utilities provider’s stock valued at $1,553,000 after buying an additional 7,700 shares in the last quarter. CENTRAL TRUST Co increased its position in Aqua America by 1.0% in the first quarter. CENTRAL TRUST Co now owns 10,053 shares of the utilities provider’s stock valued at $324,000 after buying an additional 100 shares in the last quarter. BLB&B Advisors LLC increased its position in Aqua America by 1.5% in the first quarter. BLB&B Advisors LLC now owns 146,821 shares of the utilities provider’s stock valued at $4,720,000 after buying an additional 2,192 shares in the last quarter. Finally, First National Bank & Trust Co. of Newtown increased its position in Aqua America by 2.3% in the first quarter. First National Bank & Trust Co. of Newtown now owns 154,161 shares of the utilities provider’s stock valued at $4,955,000 after buying an additional 3,533 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors.
Aqua America, Inc. (NYSE WTR) opened at 33.94 on Friday. The firm’s 50-day moving average is $33.29 and its 200-day moving average is $32.20. The stock has a market cap of $6.03 billion, a P/E ratio of 25.91 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 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 for the quarter, compared to analysts’ expectations of $208.28 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. Aqua America’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts predict that Aqua America, Inc. will post $1.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be given a $0.2047 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 2.41%. This is a boost from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio is presently 58.78%.
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WTR has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Northcoast Research initiated coverage on shares of Aqua America in a research note on Thursday, May 25th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average 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 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 directly owns 18,788 shares in the company, valued at $617,937.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $32.83, for a total transaction of $137,886.00. Following the sale, the director now owns 2,207 shares in the company, valued at $72,455.81. 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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