Amalgamated Bank Has $5.08 Million Stake in Essential Utilities, Inc. (NYSE:WTRG)

Amalgamated Bank trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,147 shares of the company’s stock after selling 19,041 shares during the period. Amalgamated Bank owned 0.05% of Essential Utilities worth $5,081,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Essential Utilities during the fourth quarter worth $97,288,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Essential Utilities in the 4th quarter worth about $52,964,000. UBS Group AG raised its position in Essential Utilities by 271.9% in the fourth quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock valued at $45,785,000 after purchasing an additional 896,223 shares during the last quarter. Vanguard Group Inc. raised its position in Essential Utilities by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock valued at $1,045,504,000 after purchasing an additional 823,495 shares during the last quarter. Finally, Nuance Investments LLC acquired a new stake in shares of Essential Utilities during the third quarter valued at about $21,570,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Trading Up 0.2 %

Shares of Essential Utilities stock traded up $0.07 during midday trading on Tuesday, reaching $39.36. The company had a trading volume of 1,317,488 shares, compared to its average volume of 1,735,243. The firm has a market cap of $10.77 billion, a PE ratio of 18.63, a P/E/G ratio of 3.50 and a beta of 0.80. The stock has a fifty day moving average price of $36.75 and a 200 day moving average price of $36.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.26.

Essential Utilities (NYSE:WTRGGet Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company’s quarterly revenue was down 32.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities analysts anticipate that Essential Utilities, Inc. will post 1.97 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.3071 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities’s payout ratio is currently 58.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WTRG shares. Robert W. Baird dropped their price objective on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Evercore ISI dropped their price target on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Check Out Our Latest Research Report on WTRG

Insider Activity at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal 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 shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the transaction, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The sale 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 company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the transaction, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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