Huntington National Bank trimmed its holdings in shares of Aqua America Inc (NYSE:WTR) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,012 shares of the utilities provider’s stock after selling 500 shares during the period. Huntington National Bank’s holdings in Aqua America were worth $224,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Aqua America by 18.0% during the second quarter. Vanguard Group Inc. now owns 22,785,489 shares of the utilities provider’s stock worth $942,636,000 after purchasing an additional 3,475,241 shares during the period. BlackRock Inc. increased its holdings in shares of Aqua America by 19.0% in the 2nd quarter. BlackRock Inc. now owns 20,422,783 shares of the utilities provider’s stock worth $844,892,000 after acquiring an additional 3,264,786 shares during the period. Zimmer Partners LP acquired a new stake in shares of Aqua America in the 2nd quarter worth about $463,972,000. Pictet Asset Management Ltd. increased its holdings in shares of Aqua America by 23.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 6,096,454 shares of the utilities provider’s stock worth $252,210,000 after acquiring an additional 1,165,654 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Aqua America by 5.7% in the 2nd quarter. Invesco Ltd. now owns 2,862,036 shares of the utilities provider’s stock worth $118,402,000 after acquiring an additional 155,185 shares during the period. 65.06% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on WTR. Bank of America began coverage on shares of Aqua America in a report on Monday, July 15th. They issued a “buy” rating and a $45.00 price objective on the stock. Argus increased their price objective on shares of Aqua America to $50.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Aqua America in a report on Sunday, August 11th. ValuEngine cut shares of Aqua America from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Janney Montgomery Scott increased their price objective 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.09.
Aqua America (NYSE:WTR) last released its earnings results on Monday, November 4th. The utilities provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $259.99 million. Aqua America had a net margin of 18.02% and a return on equity of 8.81%. Aqua America’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. On average, equities research analysts predict that Aqua America Inc will post 1.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.2343 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.94 annualized dividend and a yield of 2.15%. Aqua America’s payout ratio is 66.67%.
In related news, Director Daniel J. Hilferty III bought 1,153 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $43.35 per share, with a total value of $49,982.55. Following the purchase, the director now owns 8,720 shares in the company, valued at $378,012. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Hilferty III bought 1,152 shares of the stock in a transaction on 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 purchase, the director now owns 9,872 shares in the company, valued at approximately $428,247.36. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by company 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.
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