Bank of America Corp DE Sells 124,212 Shares of Aqua America, Inc. (NYSE:WTR)

Bank of America Corp DE lowered its stake in Aqua America, Inc. (NYSE:WTR) by 29.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,874 shares of the utilities provider’s stock after selling 124,212 shares during the period. Bank of America Corp DE owned 0.17% of Aqua America worth $9,673,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WTR. Thompson Davis & CO. Inc. raised its position in Aqua America by 4.2% in the first quarter. Thompson Davis & CO. Inc. now owns 3,301 shares of the utilities provider’s stock valued at $106,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc raised its position in Aqua America by 1.4% in the first quarter. IFP Advisors Inc now owns 3,892 shares of the utilities provider’s stock valued at $125,000 after buying an additional 53 shares during the last quarter. AT Bancorp purchased a new position in Aqua America during the first quarter valued at about $203,000. Trexquant Investment LP purchased a new position in Aqua America during the first quarter valued at about $208,000. Finally, OppenheimerFunds Inc. purchased a new position in Aqua America during the first quarter valued at about $211,000. Institutional investors and hedge funds own 50.27% of the company’s stock.

Aqua America, Inc. (NYSE:WTR) opened at 33.68 on Friday. Aqua America, Inc. has a 12-month low of $28.03 and a 12-month high of $34.86. The firm’s 50-day moving average is $33.20 and its 200 day moving average is $31.85. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 25.81 and a beta of 0.53.

Aqua America (NYSE:WTR) last released its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $187.79 million for the quarter. Aqua America had a net margin of 28.41% and a return on equity of 12.62%. On average, equities analysts expect that Aqua America, Inc. will post $1.36 earnings per share for the current fiscal year.

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Several research analysts have issued reports on WTR shares. Zacks Investment Research lowered shares of Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Northcoast Research started coverage on shares of Aqua America in a report on Thursday, May 25th. They set a “neutral” rating for the company. Finally, BidaskClub upgraded shares of Aqua America from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Aqua America presently has an average rating of “Hold” and an average price target of $32.25.

In other news, COO Richard Scott Fox sold 5,750 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $32.89, for a total transaction of $189,117.50. Following the completion of the sale, the chief operating officer now owns 18,788 shares of the company’s stock, valued at $617,937.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Glanton sold 4,200 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $32.83, for a total value of $137,886.00. Following the sale, the director now directly owns 2,207 shares of the company’s stock, valued at approximately $72,455.81. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

About Aqua America

Aqua America, Inc is a holding company. The Company is engaged in providing water or wastewater services concentrated in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is the holding company for its primary subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources, Inc (Aqua Resources) and Aqua Infrastructure, LLC (Aqua Infrastructure).

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