Los Angeles Capital Management & Equity Research Inc. grew its position in Aqua America Inc (NYSE:WTR) by 39.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,447 shares of the utilities provider’s stock after acquiring an additional 43,810 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of Aqua America worth $6,389,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC increased its stake in shares of Aqua America by 1,365.2% in the 1st quarter. Signaturefd LLC now owns 674 shares of the utilities provider’s stock valued at $25,000 after buying an additional 628 shares during the period. Bremer Bank National Association bought a new position in Aqua America during the first quarter worth about $25,000. Meridian Wealth Management LLC bought a new position in Aqua America during the first quarter worth about $36,000. Norway Savings Bank bought a new position in Aqua America during the second quarter worth about $37,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in Aqua America by 83.6% during the second quarter. Financial Gravity Wealth Inc. now owns 909 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 414 shares in the last quarter. Institutional investors own 49.58% of the company’s stock.
Shares of Aqua America stock traded down $0.21 during trading on Tuesday, reaching $43.74. The stock had a trading volume of 15,500 shares, compared to its average volume of 1,219,172. The company has a market cap of $9.29 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 4.77 and a beta of 0.41. The business’s fifty day simple moving average is $41.52. Aqua America Inc has a 52 week low of $32.09 and a 52 week high of $44.13. The company has a quick ratio of 0.29, a current ratio of 5.31 and a debt-to-equity ratio of 0.72.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 16th will be given a $0.2343 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from Aqua America’s previous quarterly dividend of $0.22. Aqua America’s payout ratio is currently 62.41%.
Several research analysts have weighed in on WTR shares. Zacks Investment Research lowered Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. ValuEngine lowered Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price target (up from $41.00) on shares of Aqua America in a report on Monday, May 6th. They noted that the move was a valuation call. Argus boosted their price target on Aqua America from $2.00 to $43.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Finally, UBS Group lowered Aqua America from a “buy” rating to a “neutral” rating and boosted their price target for the company from $42.00 to $45.00 in a report on Thursday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $41.40.
About Aqua America
Aqua America, 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.
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