California State Teachers Retirement System Raises Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

California State Teachers Retirement System raised its stake in shares of Essential Utilities, Inc. (NYSE:WTRGFree Report) by 17.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,273 shares of the company’s stock after purchasing an additional 80,359 shares during the period. California State Teachers Retirement System owned 0.20% of Essential Utilities worth $20,403,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WTRG. Tradition Wealth Management LLC boosted its stake in shares of Essential Utilities by 246.0% in the fourth quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after acquiring an additional 679 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Essential Utilities by 12.7% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 101,503 shares of the company’s stock valued at $3,791,000 after purchasing an additional 11,444 shares in the last quarter. Bank of Nova Scotia boosted its stake in Essential Utilities by 82.5% during the 4th quarter. Bank of Nova Scotia now owns 13,606 shares of the company’s stock worth $508,000 after purchasing an additional 6,149 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Essential Utilities during the fourth quarter worth $285,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Essential Utilities by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 107,688 shares of the company’s stock valued at $4,022,000 after buying an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Trading Down 0.5 %

WTRG opened at $37.69 on Friday. The stock has a market capitalization of $10.31 billion, a PE ratio of 17.86, a P/E/G ratio of 3.34 and a beta of 0.84. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. The business’s 50 day moving average price is $37.08 and its 200 day moving average price is $36.55.

Essential Utilities (NYSE:WTRGGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The business had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. As a group, equities research analysts expect that Essential Utilities, Inc. will post 1.97 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WTRG shares. 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. Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Get Our Latest Analysis on Essential Utilities

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the transaction, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,149,100.76. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Essential Utilities Company Profile

(Free Report)

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.

See Also

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

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