Nissay Asset Management Corp Japan ADV Increases Stock Position in Essential Utilities Inc (NASDAQ:WTRG)

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Nissay Asset Management Corp Japan ADV grew its stake in shares of Essential Utilities Inc (NASDAQ:WTRG) by 2.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 23,340 shares of the company’s stock after buying an additional 562 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Essential Utilities were worth $986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC purchased a new stake in shares of Essential Utilities during the 1st quarter valued at $25,000. First PREMIER Bank purchased a new stake in shares of Essential Utilities during the 1st quarter valued at $26,000. First Command Bank purchased a new stake in Essential Utilities during the 1st quarter worth $27,000. Princeton Global Asset Management LLC purchased a new stake in Essential Utilities during the 1st quarter worth $27,000. Finally, Capital Square LLC purchased a new stake in Essential Utilities during the 1st quarter worth $27,000.

In related news, EVP Matthew Rhodes sold 3,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $45.55, for a total transaction of $136,650.00. Following the sale, the executive vice president now owns 15,468 shares in the company, valued at $704,567.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Richard Scott Fox sold 1,000 shares of the stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the chief operating officer now owns 26,734 shares in the company, valued at approximately $1,203,030. The disclosure for this sale can be found here.

Shares of Essential Utilities stock opened at $45.35 on Friday. The firm has a 50-day moving average of $43.57. Essential Utilities Inc has a 1 year low of $30.40 and a 1 year high of $54.52.

Essential Utilities (NASDAQ:WTRG) last issued its earnings results on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $225.60 million during the quarter, compared to analyst estimates of $228.19 million. The business’s revenue was up 12.2% on a year-over-year basis.

WTRG has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on shares of Essential Utilities in a research report on Wednesday, April 15th. They set a “neutral” rating and a $45.00 price target for the company. Barclays initiated coverage on shares of Essential Utilities in a research report on Wednesday, July 15th. They set an “equal weight” rating and a $45.00 price target for the company. TheStreet raised shares of Essential Utilities from a “c+” rating to a “b” rating in a research report on Monday, June 8th. Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 price objective on shares of Essential Utilities in a report on Wednesday, May 13th. Finally, UBS Group boosted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $47.00.

Essential Utilities Profile

Essential Utilities, 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.

See Also: Equity Income

Want to see what other hedge funds are holding WTRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essential Utilities Inc (NASDAQ:WTRG).

Institutional Ownership by Quarter for Essential Utilities (NASDAQ:WTRG)

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