Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC cut its position in Essential Utilities, Inc. (NYSE:WTRG) by 50.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,075 shares of the company’s stock after selling 1,091 shares during the quarter. Truvestments Capital LLC’s holdings in Essential Utilities were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Gabelli Funds LLC grew its stake in Essential Utilities by 11.6% during the 1st quarter. Gabelli Funds LLC now owns 559,950 shares of the company’s stock worth $20,746,000 after purchasing an additional 58,018 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Essential Utilities by 39.5% during the 1st quarter. EP Wealth Advisors LLC now owns 8,575 shares of the company’s stock worth $318,000 after purchasing an additional 2,427 shares in the last quarter. Delap Wealth Advisory LLC acquired a new position in Essential Utilities during the 1st quarter worth $202,000. EntryPoint Capital LLC acquired a new position in Essential Utilities during the 1st quarter worth $87,000. Finally, UniSuper Management Pty Ltd grew its stake in Essential Utilities by 105.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock worth $137,000 after purchasing an additional 1,900 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Up 0.2 %

Shares of NYSE:WTRG traded up $0.07 on Friday, hitting $40.71. 884,382 shares of the company’s stock were exchanged, compared to its average volume of 1,279,274. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $42.93. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. The company has a market capitalization of $11.13 billion, a PE ratio of 19.29, a P/E/G ratio of 3.59 and a beta of 0.83. The firm’s 50-day moving average is $38.12 and its 200 day moving average is $37.01.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Thursday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.03). Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The firm had revenue of $612.07 million during the quarter, compared to analysts’ expectations of $747.44 million. Sell-side analysts predict that Essential Utilities, Inc. will post 1.97 EPS for the current year.

Insider Activity

In other news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at $488,368.48. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Company 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.