JPMorgan Chase & Co. boosted its position in Aqua America Inc. (NYSE:WTR) by 44.4% during the second quarter, Holdings Channel reports. The firm owned 164,932 shares of the company’s stock after buying an additional 50,685 shares during the period. JPMorgan Chase & Co. owned approximately 0.09% of Aqua America worth $5,882,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. TIAA CREF Investment Management LLC raised its stake in Aqua America by 33.9% in the first quarter. TIAA CREF Investment Management LLC now owns 481,886 shares of the company’s stock worth $15,334,000 after buying an additional 122,089 shares during the period. Teachers Advisors Inc. raised its stake in Aqua America by 17.2% in the first quarter. Teachers Advisors Inc. now owns 250,957 shares of the company’s stock worth $7,985,000 after buying an additional 36,785 shares during the period. BlackRock Inc. raised its stake in Aqua America by 3.9% in the first quarter. BlackRock Inc. now owns 359,648 shares of the company’s stock worth $11,444,000 after buying an additional 13,356 shares during the period. BlackRock Group LTD raised its stake in Aqua America by 0.5% in the first quarter. BlackRock Group LTD now owns 724,385 shares of the company’s stock worth $23,052,000 after buying an additional 3,599 shares during the period. Finally, BlackRock Fund Advisors raised its stake in Aqua America by 1.1% in the first quarter. BlackRock Fund Advisors now owns 6,171,125 shares of the company’s stock worth $196,365,000 after buying an additional 64,537 shares during the period. 47.76% of the stock is currently owned by institutional investors.
Aqua America Inc. (NYSE:WTR) traded up 0.55% during trading on Wednesday, hitting $29.37. 74,714 shares of the stock were exchanged. Aqua America Inc. has a 12 month low of $27.26 and a 12 month high of $35.83. The stock’s 50 day moving average price is $30.55 and its 200 day moving average price is $32.32. The stock has a market cap of $5.21 billion, a P/E ratio of 25.10 and a beta of 0.43.
Aqua America (NYSE:WTR) last announced its earnings results on Tuesday, August 2nd. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Aqua America had a net margin of 25.44% and a return on equity of 13.05%. The firm had revenue of $203.88 million for the quarter, compared to the consensus estimate of $209.61 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Analysts forecast that Aqua America Inc. will post $1.33 EPS for the current fiscal year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Friday, September 2nd. Barclays PLC reduced their target price on shares of Aqua America from $38.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 6th. Finally, Hilliard Lyons reaffirmed an “underperform” rating and set a $27.00 target price on shares of Aqua America in a research report on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Aqua America has an average rating of “Hold” and an average price target of $32.71.
In related news, Director Richard H. Glanton sold 4,650 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $31.20, for a total transaction of $145,080.00. Following the sale, the director now directly owns 4,583 shares of the company’s stock, valued at approximately $142,989.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.
About Aqua America
Aqua America, Inc is a holding company. The Company, through its subsidiaries, provides water or wastewater services in Pennsylvania, New Jersey, Indiana and Virginia, among others. It is the holding company for its subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources Inc and Aqua Infrastructure, LLC.