Penobscot Investment Management Company Inc. continued to hold its position in Aqua America Inc. (NYSE:WTR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,645 shares of the company’s stock at the end of the second quarter. Penobscot Investment Management Company Inc.’s holdings in Aqua America were worth $665,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in shares of Aqua America by 598.1% in the first quarter. Nuveen Asset Management LLC now owns 499,314 shares of the company’s stock worth $15,888,000 after buying an additional 427,794 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of Aqua America during the second quarter worth $7,164,000. TIAA CREF Investment Management LLC raised its stake in shares of Aqua America by 33.9% in the first quarter. TIAA CREF Investment Management LLC now owns 481,886 shares of the company’s stock worth $15,334,000 after buying an additional 122,089 shares during the period. Bank of Montreal Can bought a new stake in shares of Aqua America during the second quarter worth $2,769,000. Finally, Hancock Holding Co. bought a new stake in shares of Aqua America during the first quarter worth $2,435,000. 47.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Aqua America Inc. (NYSE:WTR) traded up 0.81% on Tuesday, hitting $29.93. 617,416 shares of the company’s stock were exchanged. Aqua America Inc. has a 12-month low of $28.05 and a 12-month high of $35.83. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 25.58 and a beta of 0.43. The company’s 50-day moving average price is $30.35 and its 200 day moving average price is $32.26.
Aqua America (NYSE:WTR) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.33 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.33. Aqua America had a net margin of 25.44% and a return on equity of 13.05%. The business had revenue of $203.88 million for the quarter, compared to analyst estimates of $209.61 million. During the same period last year, the business earned $0.32 EPS. The company’s revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Aqua America Inc. will post $1.33 earnings per share for the current fiscal year.
WTR has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd. Barclays PLC decreased their target price on shares of Aqua America from $38.00 to $34.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 6th. Hilliard Lyons restated an “underperform” rating and set a $27.00 target price on shares of Aqua America in a research report on Wednesday, September 14th. Finally, Robert W. Baird initiated coverage on shares of Aqua America in a research report on Friday. They set a “neutral” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $32.43.
In related news, Director Richard H. Glanton sold 4,650 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $31.20, for a total value of $145,080.00. Following the transaction, the director now directly owns 4,583 shares of the company’s stock, valued at approximately $142,989.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.
Aqua America Company Profile
Aqua America, Inc is a holding company. The Company, through its subsidiaries, provides water or wastewater services in Pennsylvania, New Jersey, Indiana and Virginia, among others. It is the holding company for its subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources Inc and Aqua Infrastructure, LLC.
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