River & Mercantile Asset Management LLP bought a new position in Aqua America Inc (NYSE:WTR) during the second quarter, Holdings Channel reports. The firm bought 2,093 shares of the utilities provider’s stock, valued at approximately $87,000.
Several other institutional investors and hedge funds have also bought and sold shares of WTR. First Trust Advisors LP increased its stake in Aqua America by 12.7% in the 1st quarter. First Trust Advisors LP now owns 1,152,580 shares of the utilities provider’s stock valued at $42,000,000 after buying an additional 129,782 shares during the last quarter. FIL Ltd increased its stake in shares of Aqua America by 138.4% during the 1st quarter. FIL Ltd now owns 29,800 shares of the utilities provider’s stock worth $1,086,000 after purchasing an additional 17,300 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Aqua America during the 1st quarter worth approximately $2,144,000. Meridian Wealth Management LLC purchased a new stake in shares of Aqua America during the 1st quarter worth approximately $36,000. Finally, Lowe Brockenbrough & Co. Inc. purchased a new stake in shares of Aqua America during the 1st quarter worth approximately $255,000. Institutional investors own 65.17% of the company’s stock.
WTR opened at $45.52 on Friday. The company has a 50 day moving average of $44.41 and a 200 day moving average of $41.04. The company has a market cap of $9.84 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 5.16 and a beta of 0.35. Aqua America Inc has a 12 month low of $32.09 and a 12 month high of $45.72. The company has a current ratio of 5.31, a quick ratio of 5.27 and a debt-to-equity ratio of 0.72.
Aqua America (NYSE:WTR) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02). The business had revenue of $218.90 million during the quarter, compared to the consensus estimate of $221.07 million. Aqua America had a return on equity of 10.13% and a net margin of 17.18%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share. Research analysts forecast that Aqua America Inc will post 1.46 earnings per share for the current fiscal year.
In other news, Director Daniel J. Hilferty III purchased 1,152 shares of the business’s stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $43.38 per share, with a total value of $49,973.76. Following the acquisition, the director now directly owns 9,872 shares in the company, valued at $428,247.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Hilferty III purchased 1,153 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $43.35 per share, with a total value of $49,982.55. Following the completion of the acquisition, the director now owns 8,720 shares in the company, valued at $378,012. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Aqua America in a research note on Monday, July 15th. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research upgraded shares of Aqua America from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a research note on Thursday, August 22nd. Argus raised their price target on shares of Aqua America to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Evercore ISI restated a “hold” rating and set a $37.00 price target on shares of Aqua America in a research note on Sunday, August 11th. Finally, Wells Fargo & Co set a $47.00 price target on shares of Aqua America and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Aqua America presently has an average rating of “Buy” and a consensus target price of $46.00.
Aqua America Profile
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.
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