Bright Rock Capital Management LLC continued to hold its position in shares of Aqua America, Inc. (NYSE:WTR) during the second quarter, Holdings Channel reports. The firm owned 209,500 shares of the utilities provider’s stock at the end of the second quarter. Aqua America comprises about 2.1% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Bright Rock Capital Management LLC’s holdings in Aqua America were worth $6,976,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its position in shares of Aqua America by 4.2% in the first quarter. Thompson Davis & CO. Inc. now owns 3,301 shares of the utilities provider’s stock worth $106,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Aqua America by 1.4% in the first quarter. IFP Advisors Inc now owns 3,892 shares of the utilities provider’s stock worth $125,000 after buying an additional 53 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Aqua America by 10.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock worth $149,000 after buying an additional 431 shares during the last quarter. Barrett Asset Management LLC bought a new position in shares of Aqua America during the second quarter worth about $197,000. Finally, Huntington National Bank boosted its position in shares of Aqua America by 6.7% in the second quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock worth $199,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds own 50.90% of the company’s stock.
Aqua America, Inc. (NYSE:WTR) opened at 34.25 on Thursday. Aqua America, Inc. has a 1-year low of $28.03 and a 1-year high of $34.41. The stock has a 50 day moving average price of $33.28 and a 200 day moving average price of $32.19. The stock has a market cap of $6.08 billion, a PE ratio of 26.15 and a beta of 0.52.
Aqua America (NYSE:WTR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. The business’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 EPS. On average, analysts predict that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.2047 per share. This represents a $0.82 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, August 14th. This is a boost from Aqua America’s previous quarterly dividend of $0.19. Aqua America’s dividend payout ratio (DPR) is 58.78%.
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A number of brokerages have issued reports on WTR. Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub cut Aqua America from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Northcoast Research began coverage on Aqua America in a research note on Thursday, May 25th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Aqua America has a consensus rating of “Hold” and a consensus price target of $32.25.
In other news, COO Richard Scott Fox sold 5,750 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total transaction of $189,117.50. Following the completion of the sale, the chief operating officer now owns 18,788 shares in the company, valued at approximately $617,937.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total value of $137,886.00. Following the sale, the director now owns 2,207 shares of the company’s stock, valued at approximately $72,455.81. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Aqua America Company Profile
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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