Massmutual Trust Co. FSB ADV Grows Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Massmutual Trust Co. FSB ADV increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 112.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,513 shares of the company’s stock after acquiring an additional 802 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Essential Utilities were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTRG. Bare Financial Services Inc bought a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $25,000. Lindbrook Capital LLC raised its position in shares of Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after buying an additional 325 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after buying an additional 842 shares during the last quarter. Resources Management Corp CT ADV raised its position in shares of Essential Utilities by 250.0% during the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock valued at $36,000 after buying an additional 750 shares during the last quarter. Finally, VisionPoint Advisory Group LLC raised its position in shares of Essential Utilities by 52.9% during the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock valued at $36,000 after buying an additional 338 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $207,073.65. Following the completion of the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other Essential Utilities news, CAO Robert A. Rubin sold 2,023 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert A. Rubin sold 5,565 shares of the firm’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 of the company’s stock, valued at $2,149,100.76. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WTRG shares. Robert W. Baird reduced their price objective on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Evercore ISI cut their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Stock Performance

WTRG stock opened at $37.23 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. The business has a 50-day moving average price of $37.31 and a 200 day moving average price of $36.69. The company has a market capitalization of $10.18 billion, a P/E ratio of 17.64, a PEG ratio of 3.27 and a beta of 0.84. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $43.26.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 earnings per share (EPS) 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 company had revenue of $612.07 million for the quarter, compared to analyst estimates of $747.44 million. As a group, equities research analysts forecast that Essential Utilities, Inc. will post 1.97 EPS for the current fiscal year.

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.