Aqua America, Inc. (NYSE:WTR) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other brokerages have also recently weighed in on WTR. Zacks Investment Research cut shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.25.
Shares of Aqua America (NYSE:WTR) opened at 33.60 on Friday. The firm has a market capitalization of $5.97 billion, a P/E ratio of 25.65 and a beta of 0.52. The firm’s 50-day moving average is $33.29 and its 200 day moving average is $32.23. Aqua America has a 52 week low of $28.03 and a 52 week high of $34.41.
Aqua America (NYSE:WTR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Aqua America will post $1.36 EPS for the current fiscal year.
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In related news, COO Richard Scott Fox sold 5,750 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 18,788 shares in the company, valued at $617,937.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard H. Glanton sold 4,200 shares of the firm’s stock in a transaction 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 sale, the director now owns 2,207 shares in the company, valued at $72,455.81. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Large investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL bought a new stake in shares of Aqua America during the first quarter worth approximately $919,000. First Manhattan Co. raised its stake in shares of Aqua America by 2.4% in the first quarter. First Manhattan Co. now owns 364,473 shares of the utilities provider’s stock worth $11,109,000 after buying an additional 8,612 shares during the last quarter. Rockland Trust Co. raised its stake in shares of Aqua America by 6.1% in the first quarter. Rockland Trust Co. now owns 373,739 shares of the utilities provider’s stock worth $12,016,000 after buying an additional 21,582 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Aqua America by 7.3% in the first 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 last quarter. Finally, CAPROCK Group Inc. raised its stake in shares of Aqua America by 2.6% in the first quarter. CAPROCK Group Inc. now owns 7,722 shares of the utilities provider’s stock worth $248,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 50.90% of the company’s stock.
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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