Stock Yards Bank & Trust Co. Sells 3,415 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,222 shares of the company’s stock after selling 3,415 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Essential Utilities were worth $494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC raised its position in Essential Utilities by 14.2% during the 3rd quarter. LPL Financial LLC now owns 235,841 shares of the company’s stock valued at $8,096,000 after purchasing an additional 29,372 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Essential Utilities by 94.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company’s stock valued at $2,808,000 after purchasing an additional 39,643 shares during the last quarter. Mariner LLC raised its position in Essential Utilities by 9.9% during the 3rd quarter. Mariner LLC now owns 34,360 shares of the company’s stock valued at $1,180,000 after purchasing an additional 3,104 shares during the last quarter. Vanguard Group Inc. raised its position in Essential Utilities by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,168,585 shares of the company’s stock valued at $932,698,000 after purchasing an additional 99,560 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Essential Utilities during the 4th quarter valued at approximately $3,583,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Essential Utilities stock opened at $36.27 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $9.92 billion, a P/E ratio of 19.50, a PEG ratio of 3.12 and a beta of 0.82. The stock’s 50 day moving average is $35.72 and its 200 day moving average is $35.71. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $44.05.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $479.40 million for the quarter, compared to the consensus estimate of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. On average, equities research analysts predict that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This represents a $1.23 annualized dividend and a yield of 3.39%. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio (DPR) is currently 66.13%.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI decreased their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Company Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.