Toth Financial Advisory Corp Purchases 13,928 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Toth Financial Advisory Corp grew its position in Essential Utilities, Inc. (NYSE:WTRG) by 64.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,516 shares of the company’s stock after acquiring an additional 13,928 shares during the period. Toth Financial Advisory Corp’s holdings in Essential Utilities were worth $1,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WTRG. Norges Bank bought a new stake in shares of Essential Utilities during the 4th quarter worth about $97,288,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Essential Utilities during the 4th quarter worth about $52,964,000. UBS Group AG boosted its holdings in shares of Essential Utilities by 271.9% during the 4th quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock worth $45,785,000 after buying an additional 896,223 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Essential Utilities by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock worth $1,045,504,000 after buying an additional 823,495 shares during the period. Finally, ING Groep NV bought a new stake in shares of Essential Utilities during the 4th quarter worth about $15,097,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $37.33 on Friday. The firm has a 50 day moving average of $37.58 and a 200-day moving average of $36.73. The stock has a market capitalization of $10.21 billion, a PE ratio of 17.69, a PEG ratio of 3.30 and a beta of 0.84. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $43.26.

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). The firm had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction that occurred 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 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 available through this link. In related news, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 of the company’s stock, valued at $2,149,100.76. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

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

Essential Utilities 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.