Investment Centers of America Inc. increased its holdings in shares of Aqua America, Inc. (NYSE:WTR) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,009 shares of the utilities provider’s stock after buying an additional 27 shares during the period. Investment Centers of America Inc.’s holdings in Aqua America were worth $233,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Virginia Retirement Systems ET AL acquired a new stake in Aqua America during the 1st quarter worth approximately $919,000. Boulegeris Investments Inc. boosted its position in Aqua America by 24.1% during the 2nd quarter. Boulegeris Investments Inc. now owns 17,754 shares of the utilities provider’s stock worth $591,000 after buying an additional 3,450 shares during the period. Geode Capital Management LLC boosted its position in Aqua America by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 1,397,830 shares of the utilities provider’s stock worth $44,940,000 after buying an additional 95,204 shares during the period. Blair William & Co. IL acquired a new stake in Aqua America during the 2nd quarter worth approximately $832,000. Finally, Legal & General Group Plc boosted its position in Aqua America by 25.0% during the 1st quarter. Legal & General Group Plc now owns 607,794 shares of the utilities provider’s stock worth $19,540,000 after buying an additional 121,405 shares during the period. Institutional investors and hedge funds own 51.02% of the company’s stock.
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In related news, insider Robert A. Rubin sold 12,499 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,777,613.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
Aqua America, Inc. (WTR) opened at 33.75 on Wednesday. The stock has a 50 day moving average of $33.80 and a 200-day moving average of $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, Inc. has a 12 month low of $28.03 and a 12 month high of $34.66.
Aqua America (NYSE:WTR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The firm had revenue of $203.40 million during the quarter, compared to analysts’ expectations of $208.28 million. During the same period in the previous year, the firm posted $0.33 EPS. Aqua America’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were paid a dividend of $0.2047 per share. This represents a $0.82 annualized dividend and a yield of 2.43%. This is a boost from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, August 14th. Aqua America’s payout ratio is presently 62.60%.
Several research firms recently commented on WTR. Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Robert W. Baird reiterated a “hold” rating and set a $32.00 target price on shares of Aqua America in a research report on Friday, August 25th. BidaskClub upgraded shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Northcoast Research began coverage on shares of Aqua America in a research report on Thursday, May 25th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.00.
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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