2 days Ago By ABMN Staff
Forsta AP Fonden trimmed its holdings in Essential Utilities, Inc. ( NYSE:WTRG – Free Report ) by 19.9% during the second quarter, HoldingsChannel reports.
The firm owned 50,000 shares of the company’s stock after selling 12,400 shares during the period. Forsta AP Fonden’s holdings in Essential Utilities were worth $1,866,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds have also made changes to their positions in WTRG.
Daiwa Securities Group Inc. boosted its position in shares of Essential Utilities by 2.8% during the 2nd quarter.
Daiwa Securities Group Inc. now owns 22,821 shares of the company’s stock valued at $852,000 after acquiring an additional 613 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Essential Utilities during the 2nd quarter worth approximately $316,000.
United Services Automobile Association raised its position in shares of Essential Utilities by 12.2% during the 2nd quarter. United Services Automobile Association now owns 19,773 shares of the company’s stock valued at $738,000 after buying an additional 2,144 shares during the period.
Choreo LLC raised its position in shares of Essential Utilities by 57.9% during the 2nd quarter. Choreo LLC now owns 15,457 shares of the company’s stock valued at $574,000 after buying an additional 5,666 shares during the period.
Finally, Prudential PLC grew its position in Essential Utilities by 14.7% in the second quarter. Prudential PLC now owns 104,893 shares of the company’s stock worth $3,916,000 after acquiring an additional 13,412 shares during the period.
74.78% of the stock is currently owned by institutional investors and hedge funds. Insider Transactions at Essential Utilities In related news, CAO Robert A.
Rubin sold 2,342 shares of Essential Utilities stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.
06. Following the completion of the transaction, the chief accounting officer now directly owns 53,391 shares in the company, valued at $1,998,425.13.
The transaction was disclosed in a document filed with the SEC, which is available at the SEC website . Corporate insiders own 0.21% of the company’s stock.
Essential Utilities Trading Up 0.4 % Essential Utilities ( NYSE:WTRG – Get Free Report ) last announced its earnings results on Monday, August 5th. The company reported $0.
28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02).
The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million.
Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%.
The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.
34 earnings per share. On average, equities analysts forecast that Essential Utilities, Inc. will post 1.
94 earnings per share for the current year. Essential Utilities Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.
3255 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.
30 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.
31. Essential Utilities’s dividend payout ratio is currently 61.61%.
Analysts Set New Price Targets A number of equities research analysts have commented on WTRG shares. Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.
00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company raised their price objective on Essential Utilities from $42.00 to $45.
00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird upped their target price on shares of Essential Utilities from $43.
00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock.
Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.40.
View Our Latest Stock Report on WTRG Essential Utilities Profile ( Free Report ) Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.
Further Reading 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. ( NYSE:WTRG – Free Report ).
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