Cutter & CO Brokerage Inc. Decreases Position in Aqua America, Inc. (WTR)
Cutter & CO Brokerage Inc. decreased its stake in shares of Aqua America, Inc. (NYSE:WTR) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,438 shares of the utilities provider’s stock after selling 436 shares during the period. Aqua America accounts for 2.0% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 7th largest position. Cutter & CO Brokerage Inc. owned 0.08% of Aqua America worth $4,976,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Aqua America during the first quarter valued at about $236,000. Arcadia Investment Management Corp MI increased its stake in shares of Aqua America by 83.4% in the first quarter. Arcadia Investment Management Corp MI now owns 12,975 shares of the utilities provider’s stock valued at $417,000 after buying an additional 5,900 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Aqua America by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 62,477 shares of the utilities provider’s stock valued at $2,009,000 after buying an additional 900 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Aqua America by 0.9% in the first quarter. Wetherby Asset Management Inc. now owns 7,571 shares of the utilities provider’s stock valued at $244,000 after buying an additional 70 shares during the period. Finally, Benedict Financial Advisors Inc. increased its stake in shares of Aqua America by 4.6% in the first quarter. Benedict Financial Advisors Inc. now owns 69,194 shares of the utilities provider’s stock valued at $2,225,000 after buying an additional 3,061 shares during the period. 50.90% of the stock is currently owned by institutional investors.
Aqua America, Inc. (NYSE WTR) traded up 0.09% during trading on Friday, reaching $34.00. The company’s stock had a trading volume of 10,017 shares. The stock has a 50-day moving average of $33.39 and a 200 day moving average of $32.47. Aqua America, Inc. has a one year low of $28.03 and a one year high of $34.41. The firm has a market capitalization of $6.04 billion, a P/E ratio of 25.95 and a beta of 0.52.
Aqua America (NYSE:WTR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. Aqua America’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. On average, equities research analysts predict that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.2047 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, August 14th. Aqua America’s dividend payout ratio is presently 62.60%.
Several brokerages recently issued reports on WTR. BidaskClub raised Aqua America from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Northcoast Research began coverage on Aqua America in a research note on Thursday, May 25th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Aqua America has an average rating of “Hold” and an average price target of $32.25.
In related news, Director Richard H. Glanton sold 4,200 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total transaction of $137,886.00. Following the completion of the sale, the director now directly owns 2,207 shares of the company’s stock, valued at approximately $72,455.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Richard Scott Fox sold 5,750 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total transaction of $189,117.50. Following the sale, the chief operating officer now directly owns 18,788 shares of the company’s stock, valued at $617,937.32. The disclosure for this sale can be found here. Corporate insiders own 0.25% 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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