Atria Wealth Solutions Inc. Raises Position in Essential Utilities, Inc. (NYSE:WTRG)

Atria Wealth Solutions Inc. lifted its stake in Essential Utilities, Inc. (NYSE:WTRG) by 162.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,043 shares of the company’s stock after purchasing an additional 13,630 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Essential Utilities were worth $823,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased 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 acquiring an additional 610 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Valley National Advisers Inc. raised its position in Essential Utilities by 4,210.0% in the 4th 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 period. Resources Management Corp CT ADV lifted its stake 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 last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Essential Utilities during the third quarter valued at approximately $39,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.2 %

WTRG stock opened at $37.76 on Friday. The company has a market capitalization of $10.33 billion, a PE ratio of 20.30, a P/E/G ratio of 3.24 and a beta of 0.80. 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, Inc. has a 12 month low of $32.07 and a 12 month high of $43.74. The firm’s 50-day moving average is $35.80 and its 200 day moving average is $35.83.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 32.0% on a year-over-year basis. On average, research analysts anticipate that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The firm 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. The ex-dividend date is Thursday, May 9th. This is an increase 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 3.25%. Essential Utilities’s dividend payout ratio is presently 66.13%.

Insider Transactions at Essential Utilities

In related 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 transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s 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 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 filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction that occurred on 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 $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.