Robeco Institutional Asset Management B.V. Cuts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Robeco Institutional Asset Management B.V. lessened its stake in Essential Utilities, Inc. (NYSE:WTRG) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,991 shares of the company’s stock after selling 5,088 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Essential Utilities were worth $2,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Essential Utilities by 24.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock worth $5,636,000 after acquiring an additional 30,152 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Essential Utilities by 12.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock worth $5,171,000 after acquiring an additional 15,009 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of Essential Utilities in the 1st quarter worth approximately $46,280,000. Boston Trust Walden Corp lifted its holdings in shares of Essential Utilities by 350.3% in the 2nd 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Essential Utilities by 231.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 306,588 shares of the company’s stock worth $11,359,000 after acquiring an additional 214,031 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $39.67 on Friday. The firm has a 50 day moving average of $39.06 and a 200 day moving average of $38.70. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. Essential Utilities, Inc. has a 12-month low of $33.28 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.28%. The ex-dividend date is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

Analyst Ratings Changes

A number of research firms recently commented on WTRG. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $41.00 in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Evercore ISI lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Bank of America reaffirmed a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

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.