Gabelli Funds LLC cut its position in shares of Aqua America Inc (NYSE:WTR) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 605,291 shares of the utilities provider’s stock after selling 9,000 shares during the period. Gabelli Funds LLC owned 0.28% of Aqua America worth $25,041,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in WTR. Duff & Phelps Investment Management Co. acquired a new position in shares of Aqua America during the 2nd quarter worth about $38,367,000. Nordea Investment Management AB grew its position in shares of Aqua America by 12,238,028.6% during the 1st quarter. Nordea Investment Management AB now owns 856,669 shares of the utilities provider’s stock worth $31,218,000 after purchasing an additional 856,662 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Aqua America during the 2nd quarter worth approximately $17,482,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Aqua America by 21.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,745,986 shares of the utilities provider’s stock worth $63,623,000 after purchasing an additional 311,577 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aqua America by 101.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,360 shares of the utilities provider’s stock worth $19,790,000 after purchasing an additional 240,832 shares in the last quarter. Institutional investors own 52.76% of the company’s stock.
A number of research analysts have issued reports on the stock. Macquarie set a $37.00 target price on shares of Aqua America and gave the stock a “hold” rating in a research report on Monday, April 22nd. UBS Group downgraded shares of Aqua America from a “buy” rating to a “neutral” rating and upped their price target for the stock from $42.00 to $45.00 in a report on Thursday, August 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Bank of America initiated coverage on shares of Aqua America in a report on Monday, July 15th. They set a “buy” rating and a $45.00 price target for the company. Finally, Evercore ISI reissued a “hold” rating and issued a $37.00 price objective on shares of Aqua America in a research note on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $41.40.
Aqua America (NYSE:WTR) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $218.90 million during the quarter, compared to analysts’ expectations of $221.07 million. Aqua America had a return on equity of 10.13% and a net margin of 17.18%. Aqua America’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. Research analysts predict that Aqua America Inc will post 1.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 16th will be paid a dividend of $0.2343 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.94 annualized dividend and a yield of 2.11%. This is a boost from Aqua America’s previous quarterly dividend of $0.22. Aqua America’s payout ratio is currently 66.67%.
In other news, Director Daniel J. Hilferty III acquired 1,153 shares of Aqua America stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $43.35 per share, with a total value of $49,982.55. Following the completion of the purchase, the director now owns 8,720 shares in the company, valued at $378,012. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.
About Aqua America
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
Featured Story: How much can an individual set aside as a catch-up contribution?
Receive News & Ratings for Aqua America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aqua America and related companies with MarketBeat.com's FREE daily email newsletter.