Comerica Bank Has $4.64 Million Position in Aqua America, Inc. (WTR)
Comerica Bank boosted its stake in shares of Aqua America, Inc. (NYSE:WTR) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,709 shares of the utilities provider’s stock after buying an additional 982 shares during the period. Comerica Bank owned 0.08% of Aqua America worth $4,640,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in WTR. BlackRock Inc. boosted its position in Aqua America by 2,818.7% in the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock valued at $489,782,000 after buying an additional 14,712,330 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Aqua America by 6.9% in the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock valued at $544,318,000 after buying an additional 1,095,878 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Aqua America by 21.0% in the second quarter. Pictet Asset Management Ltd. now owns 4,246,581 shares of the utilities provider’s stock valued at $138,821,000 after buying an additional 735,706 shares in the last quarter. State Street Corp increased its stake in shares of Aqua America by 4.6% in the first quarter. State Street Corp now owns 11,078,080 shares of the utilities provider’s stock valued at $356,166,000 after buying an additional 482,723 shares in the last quarter. Finally, Impax Asset Management LTD increased its stake in shares of Aqua America by 26.4% in the first quarter. Impax Asset Management LTD now owns 1,673,172 shares of the utilities provider’s stock valued at $53,792,000 after buying an additional 349,580 shares in the last quarter. 50.90% of the stock is owned by institutional investors and hedge funds.
Shares of Aqua America, Inc. (NYSE WTR) opened at 34.00 on Friday. Aqua America, Inc. has a one year low of $28.03 and a one year high of $34.41. The firm’s 50-day moving average price is $33.43 and its 200 day moving average price is $32.50. The firm has a market cap of $6.04 billion, a P/E ratio of 25.95 and a beta of 0.52.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business had revenue of $203.40 million during the quarter, compared to analyst estimates of $208.28 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. Aqua America’s revenue for the quarter was down .2% on a year-over-year basis. Analysts predict that Aqua America, Inc. will post $1.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.2047 per share. This represents a $0.82 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, August 14th. This is a positive change from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s payout ratio is currently 62.60%.
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Several equities research analysts have issued reports on the company. BidaskClub downgraded Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price target on shares of Aqua America in a report on Friday. Northcoast Research assumed coverage on Aqua America in a report on Thursday, May 25th. They set a “neutral” rating for the company. Finally, Zacks Investment Research raised Aqua America from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Aqua America presently has a consensus rating of “Hold” and a consensus price target of $32.25.
In other Aqua America news, COO Richard Scott Fox sold 5,750 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total transaction of $189,117.50. Following the completion of the sale, the chief operating officer now owns 18,788 shares of the company’s stock, valued at $617,937.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total value of $137,886.00. Following the sale, the director now directly owns 2,207 shares of the company’s stock, valued at approximately $72,455.81. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
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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