Mitsubishi UFJ Asset Management Co. Ltd. Has $5.64 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 24.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,120 shares of the company's stock after acquiring an additional 30,152 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of Essential Utilities worth $5,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WTRG. Raymond James Trust N.A. boosted its stake in shares of Essential Utilities by 48.4% during the 4th quarter. Raymond James Trust N.A. now owns 12,817 shares of the company's stock worth $479,000 after acquiring an additional 4,182 shares during the period. HB Wealth Management LLC boosted its stake in shares of Essential Utilities by 6.0% during the 4th quarter. HB Wealth Management LLC now owns 9,758 shares of the company's stock worth $364,000 after acquiring an additional 552 shares during the period. LVW Advisors LLC bought a new position in shares of Essential Utilities during the 4th quarter worth approximately $261,000. Raymond James Financial Services Advisors Inc. boosted its stake in Essential Utilities by 3.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 62,164 shares of the company's stock valued at $2,322,000 after purchasing an additional 1,807 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Essential Utilities by 120.6% in the 4th quarter. Pacer Advisors Inc. now owns 44,945 shares of the company's stock valued at $1,679,000 after purchasing an additional 24,574 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

WTRG traded down $0.19 during trading on Friday, hitting $40.72. The stock had a trading volume of 961,344 shares, compared to its average volume of 1,325,837. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 3.61 and a beta of 0.83. 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 company has a 50 day moving average price of $37.98 and a 200-day moving average price of $36.91. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. As a group, research analysts predict that Essential Utilities, Inc. will post 1.97 EPS for the current year.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities stock in a transaction on 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 transaction, the chief accounting officer now directly owns 53,391 shares of the company's stock, valued at approximately $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities stock in a transaction on 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 transaction, the chief accounting officer now directly owns 53,391 shares of the company's stock, valued at approximately $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction 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 completion of the transaction, 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. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price target on Essential Utilities from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.