Spinnaker Trust continued to hold its position in Aqua America, Inc. (NYSE:WTR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,560 shares of the utilities provider’s stock at the end of the second quarter. Spinnaker Trust’s holdings in Aqua America were worth $651,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Thompson Davis & CO. Inc. increased its stake in 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 increased 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 valued at $125,000 after buying an additional 53 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased 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 valued at $149,000 after buying an additional 431 shares in the last quarter. Huntington National Bank increased 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 valued at $199,000 after buying an additional 375 shares in the last quarter. Finally, National Asset Management Inc. bought a new position in shares of Aqua America during the first quarter valued at about $202,000. 50.90% of the stock is currently owned by institutional investors.
Shares of Aqua America, Inc. (NYSE WTR) traded down 1.00% during midday trading on Friday, hitting $33.60. 519,058 shares of the stock were exchanged. The stock’s 50 day moving average is $33.29 and its 200 day moving average is $32.23. Aqua America, Inc. has a 12-month low of $28.03 and a 12-month high of $34.41. The firm has a market cap of $5.97 billion, a P/E ratio of 25.65 and a beta of 0.52.
Aqua America (NYSE:WTR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts forecast that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.2047 per share. This is an increase from Aqua America’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, August 14th. This represents a $0.82 annualized dividend and a dividend yield of 2.44%. Aqua America’s dividend payout ratio (DPR) is 58.78%.
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Several research analysts have weighed in on WTR shares. BidaskClub downgraded Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research cut shares of Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Finally, Northcoast Research initiated coverage on shares of Aqua America in a research note on Thursday, May 25th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Aqua America currently has an average rating of “Hold” and an average price target of $32.25.
In related news, COO Richard Scott Fox sold 5,750 shares of Aqua America stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $32.89, for a total value of $189,117.50. Following the completion of the sale, the chief operating officer now owns 18,788 shares of the company’s stock, valued at approximately $617,937.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the firm’s 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 transaction, the director now owns 2,207 shares in the company, valued at $72,455.81. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
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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