Vontobel Holding Ltd. Sells 2,184 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Vontobel Holding Ltd. cut its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,226 shares of the company’s stock after selling 2,184 shares during the quarter. Vontobel Holding Ltd.’s holdings in Essential Utilities were worth $942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new position in Essential Utilities in the 4th quarter valued at approximately $2,637,000. First Personal Financial Services lifted its position in Essential Utilities by 1.3% in the 4th quarter. First Personal Financial Services now owns 43,196 shares of the company’s stock valued at $1,613,000 after acquiring an additional 535 shares in the last quarter. Cerity Partners LLC lifted its position in Essential Utilities by 106.4% in the 4th quarter. Cerity Partners LLC now owns 18,397 shares of the company’s stock valued at $687,000 after acquiring an additional 9,483 shares in the last quarter. Blossom Wealth Management lifted its position in Essential Utilities by 7.2% in the 4th quarter. Blossom Wealth Management now owns 13,820 shares of the company’s stock valued at $516,000 after acquiring an additional 931 shares in the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Essential Utilities by 31.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 13,087 shares of the company’s stock valued at $489,000 after buying an additional 3,150 shares during the period. 74.78% of the stock is owned by institutional investors.

Essential Utilities Price Performance

NYSE WTRG opened at $35.44 on Monday. The business’s fifty day moving average price is $35.69 and its 200-day moving average price is $35.67. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 3.08 and a beta of 0.82. 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 1-year low of $32.07 and a 1-year high of $44.05.

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

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.3071 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.47%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities’s dividend payout ratio is 66.13%.

Analysts Set New Price Targets

Separately, Evercore ISI lowered 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 analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

About Essential Utilities

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.