Russell Investments Group Ltd. lifted its stake in Aqua America, Inc. (NYSE:WTR) by 12.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,327 shares of the utilities provider’s stock after acquiring an additional 2,650 shares during the quarter. Russell Investments Group Ltd.’s holdings in Aqua America were worth $810,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Northstar Asset Management LLC lifted its holdings in shares of Aqua America by 11.2% in the 2nd quarter. Northstar Asset Management LLC now owns 7,452 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Aqua America by 6.7% in the 2nd quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 375 shares during the last quarter. Financial Architects Inc lifted its holdings in shares of Aqua America by 1.5% in the 2nd quarter. Financial Architects Inc now owns 33,459 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 500 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of Aqua America in the 2nd quarter worth approximately $603,000. Finally, Forsta AP Fonden lifted its holdings in shares of Aqua America by 298.9% in the 2nd quarter. Forsta AP Fonden now owns 188,300 shares of the utilities provider’s stock worth $6,270,000 after acquiring an additional 141,100 shares during the last quarter. Hedge funds and other institutional investors own 51.04% of the company’s stock.
Shares of Aqua America, Inc. (WTR) traded up 0.24% during midday trading on Friday, reaching $34.01. 792,319 shares of the company traded hands. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 25.96 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. The company’s 50 day moving average is $33.78 and its 200-day moving average is $32.85.
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, meeting analysts’ consensus estimates of $0.34. The firm 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%. Aqua America’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Equities research analysts forecast that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th were given a dividend of $0.2047 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.41%. This is a boost from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, August 14th. Aqua America’s payout ratio is 62.60%.
WTR has been the topic of several recent research reports. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Aqua America in a research note on Friday, August 25th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Aqua America in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Northcoast Research initiated coverage on shares of Aqua America in a research note 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 company’s stock. Aqua America presently has a consensus rating of “Buy” and an average price target of $34.00.
In other Aqua America news, insider Robert A. Rubin sold 12,499 shares of Aqua America stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $34.46, for a total transaction of $430,715.54. Following the transaction, the insider now directly owns 80,604 shares of the company’s stock, valued at $2,777,613.84. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.
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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