Los Angeles Capital Management & Equity Research Inc. decreased its stake in shares of Aqua America, Inc. (NYSE:WTR) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,077 shares of the utilities provider’s stock after selling 15,324 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.10% of Aqua America worth $5,863,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Aqua America by 6.9% during the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock worth $544,318,000 after purchasing an additional 1,095,878 shares during the last quarter. BlackRock Inc. increased its position in shares of Aqua America by 2,818.7% in the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock worth $489,782,000 after acquiring an additional 14,712,330 shares in the last quarter. State Street Corp increased its position in shares of Aqua America by 4.6% in the first quarter. State Street Corp now owns 11,078,080 shares of the utilities provider’s stock worth $356,166,000 after acquiring an additional 482,723 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Aqua America by 21.0% in the second quarter. Pictet Asset Management Ltd. now owns 4,246,581 shares of the utilities provider’s stock worth $138,821,000 after acquiring an additional 735,706 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Aqua America by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,681,653 shares of the utilities provider’s stock worth $89,300,000 after acquiring an additional 40,655 shares in the last quarter. 51.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Aqua America, Inc. (NYSE WTR) opened at 34.62 on Tuesday. Aqua America, Inc. has a 52-week low of $28.03 and a 52-week high of $34.66. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 26.43 and a beta of 0.53. The stock has a 50 day moving average of $33.69 and a 200 day moving average of $32.78.
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, meeting the consensus estimate of $0.34. The firm had revenue of $203.40 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Equities analysts predict that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were given a dividend of $0.2047 per share. This represents a $0.82 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Monday, August 14th. This is a positive change from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio (DPR) is presently 62.60%.
Several equities research analysts have recently issued reports on WTR shares. Robert W. Baird reissued a “hold” rating and issued a $32.00 price objective on shares of Aqua America in a research report on Friday, August 25th. BidaskClub lowered shares of Aqua America from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Boenning Scattergood reissued an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Northcoast Research started coverage on shares of Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $32.25.
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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