JPMorgan Chase & Co. Lowers Stake in Aqua America, Inc. (WTR)
JPMorgan Chase & Co. cut its position in shares of Aqua America, Inc. (NYSE:WTR) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,805 shares of the utilities provider’s stock after selling 21,247 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Aqua America worth $4,189,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boulegeris Investments Inc. increased its position in shares of Aqua America by 24.1% during the second quarter. Boulegeris Investments Inc. now owns 17,754 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 3,450 shares during the period. Geode Capital Management LLC increased its position in shares of Aqua America by 7.3% during the first quarter. Geode Capital Management LLC now owns 1,397,830 shares of the utilities provider’s stock valued at $44,940,000 after purchasing an additional 95,204 shares during the period. Blair William & Co. IL bought a new stake in shares of Aqua America during the second quarter valued at approximately $832,000. Legal & General Group Plc increased its position in shares of Aqua America by 25.0% during the first quarter. Legal & General Group Plc now owns 607,794 shares of the utilities provider’s stock valued at $19,540,000 after purchasing an additional 121,405 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Aqua America by 6.9% during the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock valued at $544,318,000 after purchasing an additional 1,095,878 shares during the period. Institutional investors and hedge funds own 51.02% of the company’s stock.
WTR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, October 3rd. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price target on shares of Aqua America in a research report on Friday, August 25th. Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Finally, Barclays PLC upped their price target on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, September 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.00.
In related news, insider Robert A. Rubin sold 12,499 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $34.46, for a total transaction of $430,715.54. Following the sale, the insider now owns 80,604 shares in the company, valued at approximately $2,777,613.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.
Shares of Aqua America, Inc. (WTR) opened at 34.25 on Friday. Aqua America, Inc. has a 12 month low of $28.03 and a 12 month high of $34.66. The firm has a 50-day moving average price of $33.77 and a 200-day moving average price of $33.10. The company has a market capitalization of $6.08 billion, a PE ratio of 26.15 and a beta of 0.54.
Aqua America (NYSE:WTR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $203.40 million for the quarter, compared to analyst estimates of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. Aqua America’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities research analysts predict that Aqua America, Inc. will post $1.36 EPS for the current year.
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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