Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Essential Utilities, Inc. (NYSE:WTRG – Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,334 shares of the company’s stock after purchasing an additional 3,843 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Essential Utilities were worth $782,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of WTRG. Lindbrook Capital LLC lifted its position in shares of 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 purchasing an additional 325 shares during the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of Essential Utilities by 52.9% during the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after buying an additional 338 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its position in shares of Essential Utilities by 0.5% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 69,788 shares of the company’s stock valued at $2,607,000 after acquiring an additional 342 shares during the period. Fifth Third Bancorp grew its stake in shares of Essential Utilities by 9.3% in the first quarter. Fifth Third Bancorp now owns 4,258 shares of the company’s stock worth $158,000 after acquiring an additional 364 shares during the last quarter. Finally, Bank of New Hampshire increased its position in Essential Utilities by 13.0% during the fourth quarter. Bank of New Hampshire now owns 3,250 shares of the company’s stock worth $121,000 after acquiring an additional 375 shares during the period. Institutional investors own 74.78% of the company’s stock.
Essential Utilities Stock Up 2.5 %
Shares of WTRG stock opened at $41.32 on Thursday. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. The stock has a fifty day moving average price of $37.91 and a 200 day moving average price of $36.86. The stock has a market cap of $11.30 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 3.49 and a beta of 0.83.
Essential Utilities (NYSE:WTRG – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.62% and a net margin of 29.52%. Analysts predict that Essential Utilities, Inc. will post 1.97 earnings per share for the current year.
Insider Activity
In other news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the sale, the chief accounting officer now owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Robert A. Rubin sold 2,023 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert A. Rubin sold 2,342 shares of the business’s 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 approximately $1,998,425.13. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Robert W. Baird decreased their price target on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.
Get Our Latest Research Report on Essential Utilities
Essential Utilities Company Profile
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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