Cambiar Investors LLC Sells 1,554 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Cambiar Investors LLC trimmed its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,451 shares of the company’s stock after selling 1,554 shares during the period. Cambiar Investors LLC owned approximately 0.11% of Essential Utilities worth $11,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTRG. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Essential Utilities by 24.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock valued at $5,636,000 after purchasing an additional 30,152 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Essential Utilities by 12.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock valued at $5,171,000 after buying an additional 15,009 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 17,553.7% in the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock valued at $126,156,000 after acquiring an additional 3,405,947 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in Essential Utilities in the first quarter worth about $46,280,000. Finally, Boston Trust Walden Corp increased its stake in Essential Utilities by 350.3% during the second quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock worth $33,723,000 after acquiring an additional 702,760 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Trading Down 0.9 %

WTRG stock opened at $38.24 on Friday. The company has a market capitalization of $10.47 billion, a PE ratio of 18.65, a P/E/G ratio of 3.36 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. Essential Utilities, Inc. has a 12 month low of $33.28 and a 12 month high of $41.78. The firm’s 50-day moving average is $38.99 and its 200 day moving average is $38.54.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. On average, research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s payout ratio is 63.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Wells Fargo & Company raised their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of Essential Utilities in a research report on Monday, October 7th. They set a “buy” rating and a $44.00 price objective on the stock. Evercore ISI increased their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, Essential Utilities currently has a consensus rating of “Moderate Buy” and an average target price of $44.80.

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.