Mirae Asset Global Investments Co. Ltd. Sells 1,068 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,491 shares of the company’s stock after selling 1,068 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Essential Utilities were worth $579,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in Essential Utilities by 604.0% in 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 during the period. Resources Management Corp CT ADV grew its holdings in Essential Utilities by 250.0% in the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 750 shares during the period. Orion Capital Management LLC acquired a new stake in Essential Utilities in the third quarter worth $39,000. Larson Financial Group LLC acquired a new stake in Essential Utilities in the third quarter worth $41,000. Finally, Fifth Third Bancorp grew its holdings in Essential Utilities by 79.8% in the third quarter. Fifth Third Bancorp now owns 1,958 shares of the company’s stock worth $67,000 after purchasing an additional 869 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities 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 transaction, the chief accounting officer now directly owns 57,756 shares in the company, valued at $2,149,100.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Separately, Evercore ISI reduced their price target on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Essential Utilities Stock Up 0.1 %

Shares of NYSE WTRG opened at $36.57 on Friday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 19.66, a P/E/G ratio of 3.15 and a beta of 0.82. The company has a 50-day moving average price of $35.74 and a 200-day moving average price of $35.73. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $43.84. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a net margin of 24.26% and a return on equity of 8.68%. The business’s revenue was down 32.0% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that Essential Utilities, Inc. will post 2 EPS 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. Stockholders of record on Friday, May 10th will be issued a dividend of $0.3071 per share. 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 dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities’s dividend payout ratio (DPR) is currently 66.13%.

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.