Aqua America, Inc. (WTR) Position Reduced by Commerce Bank
Commerce Bank lowered its position in shares of Aqua America, Inc. (NYSE:WTR) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,336 shares of the utilities provider’s stock after selling 1,530 shares during the period. Commerce Bank’s holdings in Aqua America were worth $244,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. CAPROCK Group Inc. grew its stake in Aqua America by 0.4% during the second quarter. CAPROCK Group Inc. now owns 7,752 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 30 shares in the last quarter. IFP Advisors Inc grew its stake in Aqua America by 1.4% during the first quarter. IFP Advisors Inc now owns 3,892 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 53 shares in the last quarter. CENTRAL TRUST Co grew its stake in Aqua America by 0.7% during the second quarter. CENTRAL TRUST Co now owns 10,124 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 71 shares in the last quarter. Utah Retirement Systems grew its stake in Aqua America by 0.3% during the first quarter. Utah Retirement Systems now owns 32,321 shares of the utilities provider’s stock valued at $1,039,000 after acquiring an additional 100 shares in the last quarter. Finally, NEXT Financial Group Inc grew its stake in Aqua America by 2.3% during the second quarter. NEXT Financial Group Inc now owns 6,489 shares of the utilities provider’s stock valued at $216,000 after acquiring an additional 144 shares in the last quarter. 51.04% of the stock is owned by institutional investors.
Several brokerages recently commented on WTR. Northcoast Research began coverage on shares of Aqua America in a research note on Thursday, May 25th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Boenning Scattergood reissued an “outperform” rating on shares of Aqua America in a research note on Tuesday, September 5th. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Robert W. Baird reissued a “hold” rating and issued a $32.00 price target on shares of Aqua America in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.25.
Aqua America, Inc. (WTR) opened at 33.88 on Wednesday. The firm has a 50-day moving average of $33.72 and a 200-day moving average of $32.80. Aqua America, Inc. has a 1-year low of $28.03 and a 1-year high of $34.66. The stock has a market cap of $6.02 billion, a PE ratio of 25.86 and a beta of 0.53.
Aqua America (NYSE:WTR) last released its quarterly earnings data 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 firm had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. Analysts expect that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were given a dividend of $0.2047 per share. The ex-dividend date was Monday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 2.42%. This is a boost from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio (DPR) is presently 62.60%.
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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