Atria Wealth Solutions Inc. Raises Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Atria Wealth Solutions Inc. increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 162.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,043 shares of the company’s stock after acquiring an additional 13,630 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Essential Utilities were worth $823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Essential Utilities by 53.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,331 shares of the company’s stock valued at $1,556,000 after purchasing an additional 15,811 shares during the period. Raymond James & Associates lifted its position in shares of Essential Utilities by 35.8% during the third quarter. Raymond James & Associates now owns 157,440 shares of the company’s stock worth $5,405,000 after acquiring an additional 41,494 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of Essential Utilities by 25.2% in the third quarter. Forsta AP Fonden now owns 71,000 shares of the company’s stock worth $2,437,000 after acquiring an additional 14,300 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in shares of Essential Utilities by 3.1% in the third quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 181,004 shares of the company’s stock valued at $6,214,000 after purchasing an additional 5,375 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Essential Utilities by 6.2% during the 3rd quarter. New York State Teachers Retirement System now owns 317,086 shares of the company’s stock valued at $10,886,000 after purchasing an additional 18,382 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Evercore ISI reduced their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the transaction, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the transaction, the chief accounting officer now owns 13,358 shares in the company, valued at $488,368.48. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Essential Utilities Trading Up 0.2 %

Essential Utilities stock opened at $37.76 on Friday. The stock has a market cap of $10.33 billion, a P/E ratio of 20.30, a PEG ratio of 3.24 and a beta of 0.80. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.74. The firm’s fifty day moving average price is $35.80 and its 200-day moving average price is $35.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.62.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The company’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. Equities research analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.3071 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a yield of 3.25%. Essential Utilities’s payout ratio is presently 66.13%.

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.