SG Americas Securities LLC Cuts Stake in Aqua America, Inc. (WTR)
SG Americas Securities LLC lessened its holdings in Aqua America, Inc. (NYSE:WTR) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,487 shares of the utilities provider’s stock after selling 2,297 shares during the period. SG Americas Securities LLC’s holdings in Aqua America were worth $2,671,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Aqua America by 137.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 57,777 shares of the utilities provider’s stock valued at $1,918,000 after acquiring an additional 33,450 shares during the period. Bank of New York Mellon Corp increased its stake in Aqua America by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,695,154 shares of the utilities provider’s stock worth $89,451,000 after buying an additional 13,501 shares during the period. Rhumbline Advisers increased its stake in Aqua America by 7.3% during the 3rd quarter. Rhumbline Advisers now owns 397,738 shares of the utilities provider’s stock worth $13,201,000 after buying an additional 27,042 shares during the period. First National Trust Co. increased its stake in Aqua America by 81.0% during the 3rd quarter. First National Trust Co. now owns 12,459 shares of the utilities provider’s stock worth $414,000 after buying an additional 5,577 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Aqua America by 0.3% during the 3rd quarter. New York State Common Retirement Fund now owns 501,400 shares of the utilities provider’s stock worth $16,641,000 after buying an additional 1,400 shares during the period. 51.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Aqua America, Inc. (WTR) opened at $36.54 on Thursday. Aqua America, Inc. has a one year low of $29.24 and a one year high of $37.30. The stock has a market cap of $6,510.00, a price-to-earnings ratio of 27.41, a P/E/G ratio of 4.23 and a beta of 0.57. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.01.
Aqua America (NYSE:WTR) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $215.01 million during the quarter, compared to the consensus estimate of $234.40 million. Aqua America had a net margin of 29.38% and a return on equity of 12.49%. The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. analysts expect that Aqua America, Inc. will post 1.36 earnings per share for the current fiscal year.
The business also recently announced a dec 17 dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $0.2047 dividend. This represents a dividend yield of 2.3%. The ex-dividend date is Thursday, November 16th. Aqua America’s payout ratio is currently 61.65%.
Several equities research analysts recently issued reports on WTR shares. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 price target on shares of Aqua America in a research note on Friday, August 25th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Aqua America in a research note on Tuesday, September 5th. Barclays PLC lifted their price target on shares of Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research raised shares of Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Aqua America currently has a consensus rating of “Buy” and an average target price of $38.20.
In other news, VP David Smeltzer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $36.36, for a total value of $363,600.00. Following the completion of the sale, the vice president now owns 71,397 shares of the company’s stock, valued at approximately $2,595,994.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Rubin sold 12,499 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.46, for a total transaction of $430,715.54. Following the completion of the sale, the insider now directly owns 80,604 shares of the company’s stock, valued at approximately $2,777,613.84. The disclosure for this sale can be found here. Insiders bought a total of 75,500 shares of company stock valued at $11,325 in the last three months. 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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