Lansforsakringar Fondforvaltning AB publ Invests $3.03 Million in Essential Utilities, Inc. (NYSE:WTRG)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 83,304 shares of the company's stock, valued at approximately $3,026,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Vanguard Group Inc. increased its holdings in shares of Essential Utilities by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock valued at $1,091,820,000 after purchasing an additional 2,245,256 shares during the period. Pictet Asset Management Holding SA lifted its stake in Essential Utilities by 31.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company's stock valued at $244,296,000 after acquiring an additional 1,597,672 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Essential Utilities by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,317,312 shares of the company's stock valued at $156,526,000 after acquiring an additional 11,336 shares during the last quarter. Invesco Ltd. increased its stake in shares of Essential Utilities by 6.8% in the fourth quarter. Invesco Ltd. now owns 3,690,116 shares of the company's stock worth $134,025,000 after acquiring an additional 236,250 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Essential Utilities by 22.0% during the fourth quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock worth $120,985,000 after purchasing an additional 601,026 shares during the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

Shares of NYSE:WTRG traded down $0.05 during trading on Monday, reaching $38.49. 479,172 shares of the company's stock traded hands, compared to its average volume of 1,476,086. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company has a 50-day simple moving average of $39.43 and a 200-day simple moving average of $37.96. The firm has a market cap of $10.79 billion, a PE ratio of 19.24, a P/E/G ratio of 2.57 and a beta of 0.85.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $783.63 million during the quarter, compared to the consensus estimate of $713.80 million. During the same period in the prior year, the company posted $0.97 EPS. The business's quarterly revenue was up 28.0% on a year-over-year basis. As a group, analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on WTRG. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Wells Fargo & Company upped their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI raised their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Robert W. Baird decreased their price target on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

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.