Tandem Investment Advisors Inc. Sells 7,790 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Tandem Investment Advisors Inc. lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,026,707 shares of the company’s stock after selling 7,790 shares during the quarter. Essential Utilities accounts for approximately 2.8% of Tandem Investment Advisors Inc.’s holdings, making the stock its 21st biggest holding. Tandem Investment Advisors Inc. owned approximately 0.74% of Essential Utilities worth $73,610,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Geode Capital Management LLC lifted its stake in Essential Utilities by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after purchasing an additional 82,456 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Essential Utilities by 4.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after purchasing an additional 100,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Essential Utilities by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after purchasing an additional 145,767 shares during the period. Finally, Boston Trust Walden Corp grew its stake in shares of Essential Utilities by 8.4% in the 4th quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock valued at $77,249,000 after purchasing an additional 164,215 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WTRG. UBS Group cut their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Performance

Shares of NYSE:WTRG opened at $35.95 on Friday. The business has a fifty day moving average of $35.58 and a 200-day moving average of $37.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a market cap of $9.87 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s payout ratio is presently 65.00%.

About Essential Utilities

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.