Tandem Investment Advisors Inc. Has $73.61 Million Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Tandem Investment Advisors Inc. trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,026,707 shares of the company’s stock after selling 7,790 shares during the period. Essential Utilities accounts for about 2.8% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 21st biggest holding. Tandem Investment Advisors Inc.’s holdings in Essential Utilities were worth $73,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after acquiring an additional 972,803 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Essential Utilities by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock valued at $165,701,000 after purchasing an additional 82,456 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after buying an additional 100,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Essential Utilities by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after buying an additional 145,767 shares in the last quarter. Finally, Boston Trust Walden Corp raised its holdings in shares of Essential Utilities by 8.4% during the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock worth $77,249,000 after acquiring an additional 164,215 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

WTRG has been the subject of a number of research reports. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $35.95 on Friday. The company has a 50-day simple moving average of $35.58 and a 200 day simple moving average of $37.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 2.54 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.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.62%. Essential Utilities’s payout ratio is currently 65.00%.

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.