Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Robeco Institutional Asset Management B.V.

Posted by on May 6th, 2023

Robeco Institutional Asset Management B.V. cut its position in shares of Essential Utilities, Inc. (NYSE:WTRG – Get Rating) by 31.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,542 shares of the company’s stock after selling 11,818 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Essential Utilities were worth $1,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EWG Elevate Inc. purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $29,000. 1832 Asset Management L.P. purchased a new stake in shares of Essential Utilities in the first quarter worth about $38,000. Romano Brothers AND Company purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $38,000. Mendota Financial Group LLC purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $41,000. Finally, Covestor Ltd boosted its position in shares of Essential Utilities by 47.0% in the first quarter. Covestor Ltd now owns 1,176 shares of the company’s stock worth $60,000 after buying an additional 376 shares during the period. 69.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Essential Utilities

In related news, CEO Chris Franklin purchased 37,245 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were acquired at an average cost of $40.70 per share, for a total transaction of $1,515,871.50. Following the transaction, the chief executive officer now owns 37,245 shares of the company’s stock, valued at $1,515,871.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Essential Utilities Trading Up 0.8 %

NYSE:WTRG opened at $43.07 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.64 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $42.93 and its two-hundred day moving average is $45.28. Essential Utilities, Inc. has a 52 week low of $38.50 and a 52 week high of $52.42. The company has a market cap of $11.39 billion, a PE ratio of 24.33, a P/E/G ratio of 3.82 and a beta of 0.79.

Essential Utilities (NYSE:WTRG – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $705.40 million for the quarter, compared to analyst estimates of $578.00 million. Essential Utilities had a return on equity of 8.73% and a net margin of 20.33%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, analysts predict that Essential Utilities, Inc. will post 1.87 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 12th will be given a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 11th. Essential Utilities’s payout ratio is 64.97%.

Analysts Set New Price Targets

WTRG has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Essential Utilities in a research report on Thursday, March 16th. StockNews.com downgraded Essential Utilities from a “hold” rating to a “sell” rating in a report on Thursday. UBS Group raised Essential Utilities from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $55.00 in a report on Monday, February 6th. Finally, Wells Fargo & Company reduced their target price on Essential Utilities from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus price target of $52.38.

About Essential Utilities

(Get Rating)

Essential Utilities, Inc is a holding company, which engages in providing water, wastewater and natural gas services through its subsidiaries. It operates through the Regulated Water and Regulated Natural Gas segments. The Regulated Water segment includes water and wastewater regulated utility companies.

Featured Stories

Want to see what other hedge funds are holding WTRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essential Utilities, Inc. (NYSE:WTRG – Get Rating).

Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

Receive News & Ratings for Essential Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essential Utilities and related companies with MarketBeat.com's FREE daily email newsletter.