Aqua America Inc. (WTR) Trading Down 1.1% After Insider Selling
Aqua America Inc. (NYSE:WTR)’s share price fell 1.1% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $30.44 and last traded at $30.56, with a volume of 577,556 shares trading hands. The stock had previously closed at $30.89.
Specifically, Director Richard H. Glanton sold 4,650 shares of the stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $31.20, for a total transaction of $145,080.00. Following the sale, the director now directly owns 4,583 shares of the company’s stock, valued at approximately $142,989.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
Several research firms have recently issued reports on WTR. Barclays PLC lowered their target price on shares of Aqua America from $38.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 6th. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Finally, Hilliard Lyons reissued an “underperform” rating and set a $27.00 target price on shares of Aqua America in a research note on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $32.71.
The firm has a market capitalization of $5.40 billion, a P/E ratio of 26.05 and a beta of 0.42. The company’s 50 day moving average price is $31.01 and its 200-day moving average price is $32.42.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $203.88 million for the quarter, compared to analyst estimates of $209.61 million. Aqua America had a net margin of 25.44% and a return on equity of 13.05%. Aqua America’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. Analysts expect that Aqua America Inc. will post $1.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a $0.1913 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This is a positive change from Aqua America’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 2.51%. Aqua America’s payout ratio is currently 66.38%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. raised its position in Aqua America by 0.5% in the second quarter. Thompson Davis & CO. Inc. now owns 3,327 shares of the company’s stock worth $119,000 after buying an additional 17 shares in the last quarter. Whittier Trust Co. raised its position in Aqua America by 3.1% in the second quarter. Whittier Trust Co. now owns 3,952 shares of the company’s stock worth $141,000 after buying an additional 120 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in Aqua America by 5.1% in the second quarter. Arcadia Investment Management Corp MI now owns 4,150 shares of the company’s stock worth $148,000 after buying an additional 200 shares in the last quarter. Tuttle Tactical Management LLC raised its position in Aqua America by 0.5% in the second quarter. Tuttle Tactical Management LLC now owns 5,736 shares of the company’s stock worth $197,000 after buying an additional 31 shares in the last quarter. Finally, EagleClaw Capital Managment LLC acquired a new position in Aqua America during the first quarter worth approximately $202,000. Institutional investors own 47.76% of the company’s stock.
Aqua America Company Profile
Aqua America, Inc is a holding company. The Company, through its subsidiaries, provides water or wastewater services in Pennsylvania, New Jersey, Indiana and Virginia, among others. It is the holding company for its subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources Inc and Aqua Infrastructure, LLC.
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