BidaskClub Downgrades Aqua America, Inc. (NYSE:WTR) to Hold
Aqua America, Inc. (NYSE:WTR) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday, July 6th.
A number of other equities research analysts also recently issued reports on the stock. Boenning Scattergood raised shares of Aqua America from a “neutral” rating to an “outperform” rating in a report on Monday, March 13th. Zacks Investment Research cut shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Northcoast Research began coverage on shares of Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating on the stock. Finally, Barclays PLC upgraded shares of Aqua America from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $33.00 to $36.00 in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Aqua America has an average rating of “Hold” and an average target price of $32.25.
Aqua America (WTR) traded up 0.34% during trading on Thursday, reaching $32.58. The company had a trading volume of 382,005 shares. Aqua America has a 12-month low of $28.03 and a 12-month high of $34.86. The firm has a 50-day moving average price of $32.89 and a 200 day moving average price of $31.58. The stock has a market cap of $5.79 billion, a P/E ratio of 24.87 and a beta of 0.53.
Aqua America (NYSE:WTR) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $187.79 million for the quarter. Aqua America had a net margin of 28.41% and a return on equity of 12.62%. Equities research analysts predict that Aqua America will post $1.36 EPS for the current fiscal year.
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In other Aqua America news, 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 completion of the transaction, the director now owns 2,207 shares of the company’s stock, valued at $72,455.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $189,117.50. Following the transaction, the chief operating officer now directly owns 18,788 shares of the company’s stock, valued at approximately $617,937.32. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in WTR. Virginia Retirement Systems ET AL acquired a new stake in Aqua America during the first quarter valued at approximately $919,000. First Manhattan Co. increased its stake in 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 in the last quarter. Rockland Trust Co. increased its stake in 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 in the last quarter. CAPROCK Group Inc. increased its stake in 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 in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Aqua America by 13.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 69,171 shares of the utilities provider’s stock worth $2,224,000 after buying an additional 8,265 shares in the last quarter. Institutional investors own 50.27% 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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