River & Mercantile Asset Management LLP Buys New Shares in Aqua America Inc (NYSE:WTR)

River & Mercantile Asset Management LLP purchased a new position in shares of Aqua America Inc (NYSE:WTR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,093 shares of the utilities provider’s stock, valued at approximately $87,000.

A number of other institutional investors have also bought and sold shares of WTR. Zimmer Partners LP bought a new position in Aqua America during the second quarter worth about $463,972,000. Vanguard Group Inc. boosted its stake in shares of Aqua America by 18.0% in the second quarter. Vanguard Group Inc. now owns 22,785,489 shares of the utilities provider’s stock valued at $942,636,000 after buying an additional 3,475,241 shares during the period. BlackRock Inc. boosted its stake in shares of Aqua America by 19.0% in the second quarter. BlackRock Inc. now owns 20,422,783 shares of the utilities provider’s stock valued at $844,892,000 after buying an additional 3,264,786 shares during the period. Brookfield Asset Management Inc. bought a new stake in shares of Aqua America in the second quarter valued at approximately $107,118,000. Finally, Jennison Associates LLC bought a new stake in shares of Aqua America in the second quarter valued at approximately $99,797,000. Institutional investors and hedge funds own 65.17% of the company’s stock.

Shares of WTR opened at $45.52 on Friday. Aqua America Inc has a one year low of $32.09 and a one year high of $45.72. The company has a market cap of $9.84 billion, a P/E ratio of 32.28, a P/E/G ratio of 5.16 and a beta of 0.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.31 and a quick ratio of 5.27. The firm has a 50 day simple moving average of $44.41 and a two-hundred day simple moving average of $41.04.

Aqua America (NYSE:WTR) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Aqua America had a net margin of 17.18% and a return on equity of 10.13%. The firm had revenue of $218.90 million for the quarter, compared to analyst estimates of $221.07 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Aqua America Inc will post 1.46 earnings per share for the current fiscal year.

In related news, Director Daniel J. Hilferty III purchased 1,152 shares of the stock in a transaction dated Monday, September 9th. The stock was 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 owns 9,872 shares of the company’s stock, valued at $428,247.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Hilferty III purchased 1,153 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $43.35 per share, with a total value of $49,982.55. Following the completion of the acquisition, the director now directly owns 8,720 shares of the company’s stock, valued at approximately $378,012. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by corporate insiders.

WTR has been the subject of several recent research reports. HSBC set a $46.00 price target on Aqua America and gave the company a “buy” rating in a research note on Friday, June 28th. Bank of America initiated coverage on Aqua America in a research note on Monday, July 15th. They issued a “buy” rating and a $45.00 price target for the company. Janney Montgomery Scott boosted their price target on Aqua America from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Co set a $47.00 price target on Aqua America and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Finally, Argus boosted their price target on Aqua America to $50.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.00.

Aqua America Profile

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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Institutional Ownership by Quarter for Aqua America (NYSE:WTR)

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