Symons Capital Management Inc. decreased its holdings in Aqua America Inc (NYSE:WTR) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 125,832 shares of the utilities provider’s stock after selling 14,354 shares during the period. Aqua America makes up about 2.6% of Symons Capital Management Inc.’s portfolio, making the stock its 18th biggest position. Symons Capital Management Inc.’s holdings in Aqua America were worth $5,641,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of WTR. Fulton Bank N.A. bought a new position in shares of Aqua America in the 2nd quarter valued at $222,000. Rockland Trust Co. grew its position in Aqua America by 1.3% during the 2nd quarter. Rockland Trust Co. now owns 279,829 shares of the utilities provider’s stock worth $11,577,000 after acquiring an additional 3,679 shares during the last quarter. Carroll Financial Associates Inc. grew its position in Aqua America by 47.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,495 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 1,129 shares during the last quarter. Retirement Systems of Alabama grew its position in Aqua America by 21.0% during the 2nd quarter. Retirement Systems of Alabama now owns 280,596 shares of the utilities provider’s stock worth $11,608,000 after acquiring an additional 48,693 shares during the last quarter. Finally, Norway Savings Bank bought a new stake in Aqua America during the 2nd quarter worth $37,000. Institutional investors own 65.06% of the company’s stock.
WTR has been the topic of a number of research reports. Evercore ISI restated a “hold” rating and set a $37.00 price objective on shares of Aqua America in a research report on Sunday, August 11th. Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a research report on Saturday, October 12th. Janney Montgomery Scott boosted their price objective on Aqua America from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Co set a $47.00 price objective on Aqua America and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Finally, UBS Group lowered Aqua America from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $45.00 in a research report on Thursday, August 8th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.09.
In related news, Director Daniel J. Hilferty III bought 1,153 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $43.35 per share, with a total value of $49,982.55. Following the acquisition, the director now owns 8,720 shares of the company’s stock, valued at $378,012. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Hilferty III bought 1,152 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $43.38 per share, for a total transaction of $49,973.76. Following the completion of the acquisition, the director now directly owns 9,872 shares in the company, valued at approximately $428,247.36. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by insiders.
WTR traded down $0.13 during midday trading on Friday, hitting $43.59. 1,806,849 shares of the company were exchanged, compared to its average volume of 1,206,212. The firm has a market capitalization of $9.56 billion, a P/E ratio of 30.91, a P/E/G ratio of 4.96 and a beta of 0.33. Aqua America Inc has a 1-year low of $32.09 and a 1-year high of $46.90. The firm’s 50 day moving average price is $45.14 and its 200-day moving average price is $42.25. The company has a quick ratio of 5.27, a current ratio of 6.19 and a debt-to-equity ratio of 0.75.
Aqua America (NYSE:WTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The firm had revenue of $243.60 million for the quarter, compared to the consensus estimate of $259.99 million. Aqua America had a return on equity of 8.81% and a net margin of 18.02%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, sell-side analysts predict that Aqua America Inc will post 1.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.2343 per share. This represents a $0.94 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, November 14th. Aqua America’s payout ratio is presently 66.67%.
About Aqua America
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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