Russell Investments Group Ltd. Sells 160,710 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Russell Investments Group Ltd. lessened its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 67.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,567 shares of the company's stock after selling 160,710 shares during the period. Russell Investments Group Ltd.'s holdings in Essential Utilities were worth $2,938,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in shares of Essential Utilities by 14.2% during the 3rd quarter. LPL Financial LLC now owns 235,841 shares of the company's stock worth $8,096,000 after acquiring an additional 29,372 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Essential Utilities by 94.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company's stock valued at $2,808,000 after purchasing an additional 39,643 shares during the last quarter. Mariner LLC increased its stake in shares of Essential Utilities by 9.9% in the 3rd quarter. Mariner LLC now owns 34,360 shares of the company's stock valued at $1,180,000 after purchasing an additional 3,104 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Essential Utilities during the 4th quarter worth $3,583,000. Finally, Vanguard Group Inc. lifted its position in shares of Essential Utilities by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,168,585 shares of the company's stock worth $932,698,000 after buying an additional 99,560 shares during the last quarter. Institutional investors own 74.78% of the company's stock.

Essential Utilities Trading Down 0.2 %

WTRG traded down $0.06 during trading on Monday, reaching $39.18. 1,132,164 shares of the company's stock were exchanged, compared to its average volume of 1,774,407. The firm has a fifty day moving average price of $36.26 and a two-hundred day moving average price of $36.09. The stock has a market capitalization of $10.72 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 3.46 and a beta of 0.80. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $708.50 million. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. Essential Utilities's quarterly revenue was down 32.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, equities research analysts forecast that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business 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 $0.3071 dividend. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities's payout ratio is currently 58.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on WTRG shares. Robert W. Baird lowered their target price on Essential Utilities from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, May 6th. Evercore ISI dropped their price objective 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 investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Essential Utilities currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 in the company, valued at approximately $488,368.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Essential Utilities 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.