Bank of Montreal Can boosted its stake in Aqua America Inc (NYSE:WTR) by 3.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 70,848 shares of the utilities provider’s stock after purchasing an additional 2,547 shares during the period. Bank of Montreal Can’s holdings in Aqua America were worth $2,581,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc raised its position in Aqua America by 1.4% in the third quarter. Vanguard Group Inc now owns 18,400,307 shares of the utilities provider’s stock worth $678,972,000 after acquiring an additional 256,460 shares during the period. Legal & General Group Plc raised its position in shares of Aqua America by 4.3% in the fourth quarter. Legal & General Group Plc now owns 950,380 shares of the utilities provider’s stock valued at $32,494,000 after purchasing an additional 39,453 shares during the period. Penn Capital Management Co. Inc. raised its position in shares of Aqua America by 12.3% in the fourth quarter. Penn Capital Management Co. Inc. now owns 25,387 shares of the utilities provider’s stock valued at $2,571,000 after purchasing an additional 2,789 shares during the period. Massey Quick Simon & CO. LLC raised its position in shares of Aqua America by 120.5% in the first quarter. Massey Quick Simon & CO. LLC now owns 1,098 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 600 shares during the period. Finally, Community Bank N.A. raised its position in shares of Aqua America by 18.9% in the fourth quarter. Community Bank N.A. now owns 9,830 shares of the utilities provider’s stock valued at $336,000 after purchasing an additional 1,560 shares during the period. 46.42% of the stock is currently owned by institutional investors and hedge funds.
NYSE WTR opened at $38.94 on Friday. Aqua America Inc has a 12-month low of $32.09 and a 12-month high of $39.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 0.33. The company has a market capitalization of $8.50 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 4.42 and a beta of 0.48.
The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be issued a dividend of $0.219 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 16th. Aqua America’s dividend payout ratio (DPR) is presently 62.41%.
Several research firms have recently issued reports on WTR. Janney Montgomery Scott reissued a “buy” rating and issued a $44.00 price target (up previously from $41.00) on shares of Aqua America in a research report on Monday, May 6th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Macquarie set a $37.00 price target on shares of Aqua America and gave the company a “hold” rating in a research report on Monday, April 22nd. ValuEngine lowered shares of Aqua America from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, UBS Group raised shares of Aqua America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $42.00 in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Aqua America has a consensus rating of “Hold” and an average price target of $39.57.
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Aqua America Profile
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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