Wetherby Asset Management Inc. Acquires 653 Shares of Aqua America, Inc. (WTR)
Wetherby Asset Management Inc. raised its stake in Aqua America, Inc. (NYSE:WTR) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,224 shares of the utilities provider’s stock after buying an additional 653 shares during the period. Wetherby Asset Management Inc.’s holdings in Aqua America were worth $274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of WTR. BlackRock Inc. raised its position in Aqua America by 2,818.7% in the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock valued at $489,782,000 after buying an additional 14,712,330 shares during the period. Vanguard Group Inc. raised its position in Aqua America by 6.9% in the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock valued at $544,318,000 after buying an additional 1,095,878 shares during the period. Pictet Asset Management Ltd. raised its position in Aqua America by 21.0% in the second quarter. Pictet Asset Management Ltd. now owns 4,246,581 shares of the utilities provider’s stock valued at $138,821,000 after buying an additional 735,706 shares during the period. State Street Corp raised its position in Aqua America by 4.6% in the first quarter. State Street Corp now owns 11,078,080 shares of the utilities provider’s stock valued at $356,166,000 after buying an additional 482,723 shares during the period. Finally, Impax Asset Management LTD raised its position in Aqua America by 26.4% in the first quarter. Impax Asset Management LTD now owns 1,673,172 shares of the utilities provider’s stock valued at $53,792,000 after buying an additional 349,580 shares during the period. 50.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Aqua America, Inc. (WTR) opened at 33.82 on Thursday. The stock’s 50 day moving average is $33.31 and its 200 day moving average is $32.33. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 25.82 and a beta of 0.52. Aqua America, Inc. has a 12-month low of $28.03 and a 12-month high of $34.41.
Aqua America (NYSE:WTR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, hitting 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 the consensus estimate of $208.28 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts expect that Aqua America, Inc. will post $1.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 16th will be given a dividend of $0.2047 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.42%. This is a boost from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, August 14th. Aqua America’s dividend payout ratio is currently 62.60%.
Several research analysts recently issued reports on WTR shares. Northcoast Research started coverage on shares of Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating for the company. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research lowered shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Aqua America has a consensus rating of “Hold” and a consensus price target of $32.25.
In related news, COO Richard Scott Fox sold 5,750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 18,788 shares in the company, valued at approximately $617,937.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $32.83, for a total transaction of $137,886.00. Following the transaction, the director now owns 2,207 shares of the company’s stock, valued at $72,455.81. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.
Aqua America Company Profile
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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