Aqua America, Inc. (WTR) Stake Held by Lehman Financial Resources Inc.
Lehman Financial Resources Inc. maintained its stake in Aqua America, Inc. (NYSE:WTR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,020 shares of the utilities provider’s stock at the close of the second quarter. Lehman Financial Resources Inc.’s holdings in Aqua America were worth $234,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of WTR. World Asset Management Inc increased its stake in Aqua America by 2.1% in the 1st quarter. World Asset Management Inc now owns 11,023 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 222 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Aqua America by 53.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 153,933 shares of the utilities provider’s stock worth $4,949,000 after purchasing an additional 53,537 shares in the last quarter. Sei Investments Co. increased its stake in Aqua America by 2.6% in the 1st quarter. Sei Investments Co. now owns 11,812 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 296 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Aqua America by 3.8% in the 1st quarter. Ameriprise Financial Inc. now owns 515,462 shares of the utilities provider’s stock worth $16,571,000 after purchasing an additional 18,856 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Aqua America by 48.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 304,542 shares of the utilities provider’s stock worth $9,791,000 after purchasing an additional 98,868 shares in the last quarter. 51.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.46, for a total transaction of $430,715.54. Following the completion of the transaction, the insider now directly owns 80,604 shares in the company, valued at $2,777,613.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.
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A number of equities analysts recently weighed in on WTR shares. BidaskClub raised Aqua America from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research cut Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Robert W. Baird reissued a “hold” rating and issued a $32.00 price target on shares of Aqua America in a research note on Friday, August 25th. Boenning Scattergood reissued an “outperform” rating on shares of Aqua America in a research note on Tuesday, September 5th. Finally, Barclays PLC lifted their price target on Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $34.67.
Aqua America, Inc. (NYSE WTR) traded up 0.78% during trading on Friday, reaching $33.75. The company’s stock had a trading volume of 595,696 shares. Aqua America, Inc. has a 52 week low of $28.03 and a 52 week high of $34.66. The stock’s 50 day moving average is $33.80 and its 200-day moving average is $32.89. The firm has a market cap of $6.00 billion, a P/E ratio of 25.76 and a beta of 0.53.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. The business had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. Aqua America’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. On average, equities research analysts forecast that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were issued a dividend of $0.2047 per share. The ex-dividend date was Monday, August 14th. This is an increase from Aqua America’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.43%. Aqua America’s dividend payout ratio (DPR) is presently 62.60%.
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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