International Assets Investment Management LLC Buys Shares of 95,934 Essential Utilities, Inc. (NYSE:WTRG)

International Assets Investment Management LLC acquired a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 95,934 shares of the company's stock, valued at approximately $3,583,000.

Other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its position in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company's stock valued at $27,000 after purchasing an additional 610 shares during the period. Valley National Advisers Inc. boosted its position in Essential Utilities by 4,210.0% in 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 during the last quarter. Resources Management Corp CT ADV grew its stake in shares of Essential Utilities by 250.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company's stock valued at $36,000 after purchasing an additional 750 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Essential Utilities during the 3rd quarter valued at about $39,000. Finally, Larson Financial Group LLC bought a new position in shares of Essential Utilities in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WTRG. Robert W. Baird decreased their target price on Essential Utilities from $44.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday. Evercore ISI lowered their target price on Essential Utilities from $51.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Insiders Place Their Bets

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

Essential Utilities Stock Up 1.2 %

WTRG stock traded up $0.45 during trading on Friday, reaching $39.23. 1,377,573 shares of the company traded hands, compared to its average volume of 1,769,959. The business has a 50 day simple moving average of $36.17 and a 200 day simple moving average of $36.00. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $43.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.48 and a current ratio of 0.62. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.38 and a beta of 0.80.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $479.40 million for the quarter, compared to the consensus estimate of $708.50 million. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The firm's revenue for the quarter was down 32.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts anticipate that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.3071 dividend. The ex-dividend date is Thursday, May 9th. This is a boost from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.23 dividend on an annualized basis and a yield of 3.13%. Essential Utilities's dividend payout ratio (DPR) is 58.29%.

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.