Chesapeake Asset Management LLC Maintains Stake in Aqua America, Inc. (WTR)
Chesapeake Asset Management LLC maintained its position in Aqua America, Inc. (NYSE:WTR) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 37,500 shares of the utilities provider’s stock at the end of the second quarter. Chesapeake Asset Management LLC’s holdings in Aqua America were worth $1,249,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. boosted its position in Aqua America by 4.2% in the first quarter. Thompson Davis & CO. Inc. now owns 3,301 shares of the utilities provider’s stock worth $106,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc boosted its position in Aqua America by 1.4% in the first quarter. IFP Advisors Inc now owns 3,892 shares of the utilities provider’s stock worth $125,000 after buying an additional 53 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Aqua America by 10.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock worth $149,000 after buying an additional 431 shares during the last quarter. Barrett Asset Management LLC purchased a new position in Aqua America during the second quarter worth approximately $197,000. Finally, Huntington National Bank boosted its position in Aqua America by 6.7% in the second quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock worth $199,000 after buying an additional 375 shares during the last quarter. Institutional investors own 50.90% of the company’s stock.
Shares of Aqua America, Inc. (NYSE:WTR) traded down 0.06% on Friday, reaching $33.56. The company’s stock had a trading volume of 364,565 shares. Aqua America, Inc. has a one year low of $28.03 and a one year high of $34.41. The firm has a 50-day moving average price of $33.32 and a 200 day moving average price of $32.36. The firm has a market capitalization of $5.96 billion, a PE ratio of 25.62 and a beta of 0.52.
Aqua America (NYSE:WTR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. On average, analysts anticipate that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.2047 per share. This represents a $0.82 annualized dividend and a yield of 2.44%. The ex-dividend date is Monday, August 14th. This is a boost from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio (DPR) is 62.60%.
A number of research analysts have recently commented on the company. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Northcoast Research assumed coverage on Aqua America in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Aqua America presently has an average rating of “Hold” and an average target price of $32.25.
In other Aqua America news, Director Richard H. Glanton sold 4,200 shares of the 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 sale, the director now owns 2,207 shares of the company’s stock, valued at approximately $72,455.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Richard Scott Fox sold 5,750 shares of the 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 sale, the chief operating officer now directly owns 18,788 shares in the company, valued at approximately $617,937.32. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
About Aqua America
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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