Nissay Asset Management Corp Japan ADV increased its holdings in Essential Utilities Inc (NASDAQ:WTRG) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,340 shares of the company’s stock after purchasing an additional 562 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Essential Utilities were worth $986,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWM LLC acquired a new position in shares of Essential Utilities during the first quarter valued at approximately $25,000. First PREMIER Bank purchased a new position in Essential Utilities in the first quarter worth approximately $26,000. Capital Square LLC purchased a new position in Essential Utilities in the first quarter worth approximately $27,000. First Command Bank purchased a new position in Essential Utilities in the first quarter worth approximately $27,000. Finally, Princeton Global Asset Management LLC purchased a new position in Essential Utilities in the first quarter worth approximately $27,000.
Shares of WTRG stock opened at $45.35 on Friday. The business’s 50-day moving average price is $43.57. Essential Utilities Inc has a 1 year low of $30.40 and a 1 year high of $54.52.
Essential Utilities (NASDAQ:WTRG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $225.60 million for the quarter, compared to analysts’ expectations of $228.19 million. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year.
In related news, COO Richard Scott Fox sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the chief operating officer now owns 26,734 shares of the company’s stock, valued at $1,203,030. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Matthew Rhodes sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $45.55, for a total value of $136,650.00. Following the transaction, the executive vice president now directly owns 15,468 shares in the company, valued at approximately $704,567.40. The disclosure for this sale can be found here.
WTRG has been the topic of a number of research reports. UBS Group upped their price target on Essential Utilities from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Goldman Sachs Group initiated coverage on Essential Utilities in a research note on Wednesday, April 15th. They set a “neutral” rating and a $45.00 price target on the stock. Barclays started coverage on Essential Utilities in a research note on Wednesday, July 15th. They set an “equal weight” rating and a $45.00 price target on the stock. Seaport Global Securities started coverage on Essential Utilities in a research note on Wednesday, May 20th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 price objective on shares of Essential Utilities in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.00.
Essential Utilities Company Profile
Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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