Mn Services Vermogensbeheer B.V. Sells 4,400 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Mn Services Vermogensbeheer B.V. lowered its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,900 shares of the company’s stock after selling 4,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Essential Utilities were worth $4,292,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. United Capital Financial Advisers LLC lifted its position in shares of Essential Utilities by 1.7% in the first quarter. United Capital Financial Advisers LLC now owns 14,796 shares of the company’s stock worth $757,000 after purchasing an additional 248 shares in the last quarter. Captrust Financial Advisors increased its stake in Essential Utilities by 3.3% in the 4th quarter. Captrust Financial Advisors now owns 8,694 shares of the company’s stock valued at $415,000 after buying an additional 274 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Essential Utilities by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 68,918 shares of the company’s stock worth $2,751,000 after buying an additional 292 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Essential Utilities by 14.0% during the 4th quarter. Harbour Investments Inc. now owns 2,403 shares of the company’s stock worth $115,000 after buying an additional 295 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Essential Utilities by 0.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 65,412 shares of the company’s stock valued at $2,999,000 after acquiring an additional 305 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI reduced their price target on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Activity at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Essential Utilities Stock Down 2.0 %

Shares of WTRG stock opened at $33.88 on Wednesday. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $44.05. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 3.01 and a beta of 0.82. The firm’s 50-day moving average is $35.71 and its 200-day moving average is $35.63. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.62.

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

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a dividend of $0.3071 per share. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.63%. Essential Utilities’s payout ratio is presently 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.