Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI grew its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 35.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,105 shares of the company's stock after acquiring an additional 20,550 shares during the period. Arcadia Investment Management Corp MI's holdings in Essential Utilities were worth $2,931,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WTRG. Bare Financial Services Inc acquired a new position in shares of Essential Utilities in the fourth quarter worth about $25,000. Tradewinds Capital Management LLC increased its stake in shares of Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company's stock worth $26,000 after purchasing an additional 626 shares in the last quarter. 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. Lindbrook Capital LLC increased its stake in shares of Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company's stock worth $28,000 after purchasing an additional 325 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake 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 worth $32,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the company's stock in a transaction dated Monday, April 1st. The shares were 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 approximately $2,149,100.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Price Performance

Shares of WTRG stock traded up $0.47 on Thursday, reaching $37.68. 1,534,372 shares of the company were exchanged, compared to its average volume of 1,805,407. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 3.19 and a beta of 0.80. The business has a 50-day moving average price of $35.80 and a 200 day moving average price of $35.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.62. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $43.74.

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

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This represents a $1.23 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Essential Utilities's previous quarterly dividend of $0.31. Essential Utilities's dividend payout ratio is currently 66.13%.

Wall Street Analyst Weigh In

Separately, Evercore ISI cut their target price on shares of 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 research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Essential Utilities currently has an average rating of "Moderate Buy" and an average target price of $43.00.

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.

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