Impax Asset Management Group plc Has $8.24 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Impax Asset Management Group plc boosted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,590 shares of the company's stock after purchasing an additional 32,893 shares during the quarter. Impax Asset Management Group plc owned approximately 0.08% of Essential Utilities worth $8,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its stake in shares of Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company's stock worth $27,000 after purchasing an additional 610 shares in the last quarter. PSI Advisors LLC purchased a new stake in Essential Utilities during the 3rd quarter worth approximately $31,000. Valley National Advisers Inc. raised its holdings in shares of Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company's stock valued at $32,000 after acquiring an additional 842 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Essential Utilities by 112.6% in the second quarter. IFP Advisors Inc now owns 863 shares of the company's stock valued at $34,000 after acquiring an additional 457 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Essential Utilities by 155.4% in the third quarter. Quent Capital LLC now owns 1,042 shares of the company's stock valued at $36,000 after acquiring an additional 634 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer now owns 57,756 shares of the company's stock, valued at $2,149,100.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Evercore ISI reduced their price objective on Essential Utilities from $51.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Essential Utilities Price Performance

WTRG traded down $0.13 during trading on Thursday, reaching $34.90. The company's stock had a trading volume of 2,181,982 shares, compared to its average volume of 1,804,448. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.15 and a beta of 0.82. The firm has a fifty day simple moving average of $35.83 and a two-hundred day simple moving average of $35.63. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $45.29. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm had revenue of $479.40 million for the quarter, compared to the consensus estimate of $708.50 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was down 32.0% compared to the same quarter last year. As a group, analysts anticipate that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.3071 per share. This is a boost from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities's dividend payout ratio (DPR) is presently 66.13%.

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.