Swiss National Bank Cuts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Swiss National Bank cut its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 782,800 shares of the company's stock after selling 22,500 shares during the quarter. Swiss National Bank owned 0.29% of Essential Utilities worth $29,238,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James & Associates boosted its holdings in Essential Utilities by 35.8% in the 3rd quarter. Raymond James & Associates now owns 157,440 shares of the company's stock worth $5,405,000 after buying an additional 41,494 shares during the last quarter. Forsta AP Fonden increased its position in shares of Essential Utilities by 25.2% during the third quarter. Forsta AP Fonden now owns 71,000 shares of the company's stock worth $2,437,000 after purchasing an additional 14,300 shares in the last quarter. New York State Teachers Retirement System raised its stake in Essential Utilities by 6.2% in the 3rd quarter. New York State Teachers Retirement System now owns 317,086 shares of the company's stock valued at $10,886,000 after purchasing an additional 18,382 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Essential Utilities by 2.6% in the third quarter. IFM Investors Pty Ltd now owns 92,851 shares of the company's stock worth $3,188,000 after buying an additional 2,369 shares in the last quarter. Finally, TIAA Trust National Association acquired a new position in Essential Utilities during the third quarter worth about $449,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WTRG. Evercore ISI cut their price target on 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 research report on Monday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Essential Utilities Trading Up 1.0 %

Shares of NYSE WTRG traded up $0.39 during mid-day trading on Thursday, reaching $38.78. 1,696,576 shares of the company's stock were exchanged, compared to its average volume of 1,785,951. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.29 and a beta of 0.80. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $43.26. The company's 50-day moving average is $36.09 and its 200-day moving average is $35.99. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.48 and a current ratio of 0.62.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. The business had revenue of $479.40 million during the quarter, compared to analysts' expectations of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The business's revenue for the quarter was down 32.0% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. Analysts expect that Essential Utilities, Inc. will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.3071 per share. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, May 9th. Essential Utilities's dividend payout ratio (DPR) is currently 58.29%.

Insider Activity

In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares of the company's stock, valued at $488,368.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Robert A. Rubin sold 5,565 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 57,756 shares of the company's stock, valued at approximately $2,149,100.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Robert A. Rubin sold 2,023 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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.