Victory Capital Management Inc. Trims Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Victory Capital Management Inc. lowered its position in Essential Utilities, Inc. (NYSE:WTRG) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,075 shares of the company’s stock after selling 3,947 shares during the period. Victory Capital Management Inc.’s holdings in Essential Utilities were worth $1,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC boosted its holdings in shares of Essential Utilities by 4,309.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after acquiring an additional 1,227,010 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after purchasing an additional 1,059,320 shares during the last quarter. AMF Tjanstepension AB acquired a new stake in Essential Utilities during the 2nd quarter worth about $11,853,000. Dimensional Fund Advisors LP raised its stake in shares of Essential Utilities by 18.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company’s stock valued at $56,002,000 after buying an additional 234,857 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Essential Utilities in the 2nd quarter valued at about $5,221,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $39.53 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a fifty day moving average price of $39.04 and a 200 day moving average price of $38.85. The company has a market cap of $10.86 billion, a P/E ratio of 19.77, a PEG ratio of 3.11 and a beta of 0.84. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Sell-side analysts predict that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.29%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

WTRG has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird increased their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company dropped their price target on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Company 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.