BlackRock Inc. boosted its holdings in shares of Aqua America Inc (NYSE:WTR) by 19.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,422,783 shares of the utilities provider’s stock after buying an additional 3,264,786 shares during the quarter. BlackRock Inc. owned approximately 9.46% of Aqua America worth $844,892,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. 6 Meridian increased its holdings in Aqua America by 1.8% during the second quarter. 6 Meridian now owns 14,182 shares of the utilities provider’s stock valued at $587,000 after buying an additional 244 shares during the period. Haverford Trust Co. increased its holdings in Aqua America by 1.1% during the second quarter. Haverford Trust Co. now owns 23,885 shares of the utilities provider’s stock valued at $988,000 after buying an additional 250 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Aqua America by 0.8% in the second quarter. Clear Harbor Asset Management LLC now owns 37,058 shares of the utilities provider’s stock worth $1,533,000 after purchasing an additional 286 shares during the last quarter. State Treasurer State of Michigan grew its holdings in Aqua America by 0.5% in the second quarter. State Treasurer State of Michigan now owns 63,816 shares of the utilities provider’s stock worth $2,640,000 after purchasing an additional 300 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in Aqua America by 1.1% in the second quarter. New Mexico Educational Retirement Board now owns 36,400 shares of the utilities provider’s stock worth $1,506,000 after purchasing an additional 400 shares during the last quarter. 65.06% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the stock. Wells Fargo & Co set a $47.00 price target on shares of Aqua America and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott lifted their price target on shares of Aqua America from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Argus lifted their price target on shares of Aqua America to $50.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group lowered shares of Aqua America from a “buy” rating to a “neutral” rating and lifted 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. Finally, Bank of America assumed coverage on shares of Aqua America in a report on Monday, July 15th. They issued a “buy” rating and a $45.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Aqua America currently has an average rating of “Buy” and an average price target of $46.09.
NYSE WTR opened at $43.59 on Friday. The firm’s fifty day simple moving average is $45.14 and its two-hundred day simple moving average is $42.25. The company has a current ratio of 6.19, a quick ratio of 5.27 and a debt-to-equity ratio of 0.75. Aqua America Inc has a 12-month low of $32.09 and a 12-month high of $46.90. The firm has a market capitalization of $9.56 billion, a P/E ratio of 30.91, a P/E/G ratio of 4.96 and a beta of 0.33.
Aqua America (NYSE:WTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $243.60 million for the quarter, compared to analyst estimates of $259.99 million. Aqua America had a net margin of 18.02% and a return on equity of 8.81%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, sell-side analysts predict that Aqua America Inc will post 1.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.2343 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, November 14th. Aqua America’s dividend payout ratio (DPR) is presently 66.67%.
In related news, Director Daniel J. Hilferty III acquired 1,153 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 directly owns 8,720 shares of the company’s stock, valued at $378,012. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Hilferty III acquired 1,152 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $43.38 per share, for a total transaction of $49,973.76. Following the completion of the acquisition, the director now directly owns 9,872 shares of the company’s stock, valued at $428,247.36. The disclosure for this purchase can be found here. 0.30% of the stock is owned by insiders.
Aqua America Company 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.
Featured Story: How to Invest in a Bull Market
Want to see what other hedge funds are holding WTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aqua America Inc (NYSE:WTR).
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.