UBS Asset Management Americas Inc. raised its position in Aqua America, Inc. (NYSE:WTR) by 16.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,671 shares of the utilities provider’s stock after acquiring an additional 24,738 shares during the quarter. UBS Asset Management Americas Inc. owned 0.10% of Aqua America worth $5,950,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in WTR. Sei Investments Co. lifted its stake in Aqua America by 2.6% in the first quarter. Sei Investments Co. now owns 11,812 shares of the utilities provider’s stock valued at $380,000 after buying an additional 296 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Aqua America during the first quarter valued at about $208,000. Envestnet Asset Management Inc. raised its stake in shares of Aqua America by 6.4% during the first quarter. Envestnet Asset Management Inc. now owns 26,192 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 1,584 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Aqua America by 15.6% during the first quarter. JPMorgan Chase & Co. now owns 147,052 shares of the utilities provider’s stock valued at $4,727,000 after purchasing an additional 19,842 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Aqua America by 2.7% during the first quarter. Prudential Financial Inc. now owns 144,087 shares of the utilities provider’s stock valued at $4,632,000 after purchasing an additional 3,790 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Aqua America in a research note on Friday, August 25th. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Barclays PLC lifted their price target on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Finally, Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a report on Tuesday, September 5th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.00.
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Aqua America, Inc. (WTR) opened at 34.90 on Tuesday. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 26.64 and a beta of 0.54. The stock’s 50 day moving average price is $33.89 and its 200-day moving average price is $33.22. Aqua America, Inc. has a one year low of $28.03 and a one year high of $35.15.
Aqua America (NYSE:WTR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
In related news, insider Robert A. Rubin sold 12,499 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.46, for a total value of $430,715.54. Following the sale, the insider now directly owns 80,604 shares of the company’s stock, valued at $2,777,613.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.
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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