Bank of Montreal Can Increases Holdings in Aqua America Inc (WTR)

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.

Aqua America (NYSE:WTR) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $201.10 million for the quarter, compared to the consensus estimate of $201.17 million. Aqua America had a return on equity of 12.40% and a net margin of 18.71%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. Research analysts predict that Aqua America Inc will post 1.49 earnings per share for the current fiscal year.

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.

WARNING: This piece of content was first posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/05/17/bank-of-montreal-can-increases-holdings-in-aqua-america-inc-wtr.html.

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.

Recommended Story: 52-Week High/Low

Want to see what other hedge funds are holding WTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aqua America Inc (NYSE:WTR).

Institutional Ownership by Quarter for Aqua America (NYSE:WTR)

Receive News & Ratings for Aqua America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aqua America and related companies with MarketBeat.com's FREE daily email newsletter.