Cambiar Investors LLC Lowers Position in Essential Utilities, Inc. (NYSE:WTRG)

Cambiar Investors LLC cut its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 268,353 shares of the company's stock after selling 37,098 shares during the quarter. Cambiar Investors LLC owned approximately 0.10% of Essential Utilities worth $9,747,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Friedenthal Financial bought a new position in Essential Utilities in the third quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in shares of Essential Utilities during the third quarter worth about $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Essential Utilities during the third quarter worth about $28,000. First Horizon Advisors Inc. grew its stake in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after acquiring an additional 294 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Essential Utilities during the third quarter worth about $42,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

NYSE WTRG traded down $0.62 during trading hours on Friday, reaching $35.21. The stock had a trading volume of 910,371 shares, compared to its average volume of 1,406,862. The stock has a fifty day moving average of $35.92 and a 200 day moving average of $38.13. The stock has a market cap of $9.67 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.70%. Essential Utilities's dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company lowered Essential Utilities from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Robert W. Baird boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.00.

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.