Vanguard Group Inc. Has $1.05 Billion Position in Essential Utilities, Inc. (NYSE:WTRG)

Vanguard Group Inc. lifted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,992,080 shares of the company’s stock after purchasing an additional 823,495 shares during the quarter. Vanguard Group Inc. owned 10.24% of Essential Utilities worth $1,045,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WTRG. Norges Bank acquired a new stake in Essential Utilities in the 4th quarter valued at approximately $97,288,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Essential Utilities in the 4th quarter valued at approximately $52,964,000. UBS Group AG raised its position in Essential Utilities by 271.9% in the 4th quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock valued at $45,785,000 after buying an additional 896,223 shares during the last quarter. ING Groep NV acquired a new stake in Essential Utilities in the 4th quarter valued at approximately $15,097,000. Finally, Duff & Phelps Investment Management Co. raised its position in Essential Utilities by 11.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 3,069,377 shares of the company’s stock valued at $114,641,000 after buying an additional 313,277 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction on 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the business’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 of the company’s stock, valued at $488,368.48. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Essential Utilities Stock Up 0.1 %

NYSE:WTRG opened at $37.01 on Friday. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 3.26 and a beta of 0.84. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $43.26. The stock’s 50 day moving average price is $37.25 and its two-hundred day moving average price is $36.67. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG) 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). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The business had revenue of $612.07 million for the quarter, compared to the consensus estimate of $747.44 million. Equities research analysts expect that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

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.