Allspring Global Investments Holdings LLC reduced its holdings in Essential Utilities, Inc. (NYSE:WTRG – Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,064 shares of the company’s stock after selling 1,325 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Essential Utilities were worth $151,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of WTRG. Bare Financial Services Inc acquired a new position in Essential Utilities during the 4th quarter worth $25,000. Lindbrook Capital LLC lifted its holdings in Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after buying an additional 842 shares in the last quarter. Tradition Wealth Management LLC lifted its holdings in Essential Utilities by 246.0% during the 4th quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after buying an additional 679 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Essential Utilities during the 4th quarter worth $36,000. 74.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Robert W. Baird reduced their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.
Read Our Latest Report on WTRG
Essential Utilities Stock Performance
Shares of Essential Utilities stock opened at $40.72 on Friday. The firm has a fifty day moving average of $37.98 and a two-hundred day moving average of $36.91. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.61 and a beta of 0.83. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $43.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62.
Essential Utilities (NYSE:WTRG – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The business had revenue of $612.07 million for the quarter, compared to the consensus estimate of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. As a group, equities research analysts predict that Essential Utilities, Inc. will post 1.97 EPS for the current year.
Insider Activity at Essential Utilities
In related news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the sale, the chief accounting officer now owns 53,391 shares in the company, valued at approximately $1,998,425.13. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the sale, the chief accounting officer now owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.
About Essential Utilities
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.
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