Principal Financial Group Inc. Sells 54,829 Shares of AquaVenture Holdings Ltd (NASDAQ:WAAS)
Principal Financial Group Inc. lowered its holdings in shares of AquaVenture Holdings Ltd (NASDAQ:WAAS) by 18.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,603 shares of the company’s stock after selling 54,829 shares during the period. Principal Financial Group Inc. owned approximately 0.94% of AquaVenture Holdings worth $3,786,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP bought a new position in shares of AquaVenture Holdings in the second quarter valued at approximately $2,652,000. Citadel Advisors LLC bought a new stake in AquaVenture Holdings during the first quarter worth $262,000. Geode Capital Management LLC lifted its holdings in AquaVenture Holdings by 16.3% during the first quarter. Geode Capital Management LLC now owns 77,711 shares of the company’s stock worth $1,326,000 after acquiring an additional 10,914 shares during the period. DnB Asset Management AS bought a new stake in AquaVenture Holdings during the second quarter worth $445,000. Finally, Summit Partners Public Asset Management LLC lifted its holdings in AquaVenture Holdings by 50.1% during the first quarter. Summit Partners Public Asset Management LLC now owns 180,000 shares of the company’s stock worth $3,073,000 after acquiring an additional 60,100 shares during the period.
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A number of brokerages recently commented on WAAS. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target (down from $27.00) on shares of AquaVenture Holdings in a report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $23.00 price target (down from $28.00) on shares of AquaVenture Holdings in a report on Thursday, August 10th. Zacks Investment Research downgraded AquaVenture Holdings from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and issued a $19.00 target price on shares of AquaVenture Holdings in a research report on Wednesday. Finally, BidaskClub downgraded AquaVenture Holdings from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.00.
In related news, CEO Douglas R. Brown acquired 14,018 shares of AquaVenture Holdings stock in a transaction that occurred on Friday, September 22nd. The stock was purchased at an average price of $14.36 per share, for a total transaction of $201,298.48. Following the completion of the purchase, the chief executive officer now directly owns 1,484,042 shares of the company’s stock, valued at $21,310,843.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas R. Brown acquired 24,179 shares of AquaVenture Holdings stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average price of $14.66 per share, with a total value of $354,464.14. Following the purchase, the chief executive officer now directly owns 1,452,845 shares of the company’s stock, valued at $21,298,707.70. The disclosure for this purchase can be found here.
Shares of AquaVenture Holdings Ltd (NASDAQ:WAAS) traded up 0.36% during trading on Friday, hitting $13.82. The stock had a trading volume of 101,200 shares. The stock’s 50-day moving average price is $14.06 and its 200 day moving average price is $14.06. The firm’s market capitalization is $365.30 million. AquaVenture Holdings Ltd has a 1-year low of $12.52 and a 1-year high of $26.33.
AquaVenture Holdings (NASDAQ:WAAS) last posted its earnings results on Wednesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.07). AquaVenture Holdings had a negative net margin of 18.49% and a negative return on equity of 6.11%. The company had revenue of $29.00 million during the quarter, compared to analysts’ expectations of $30.91 million. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that AquaVenture Holdings Ltd will post ($0.93) earnings per share for the current year.
AquaVenture Holdings Profile
AquaVenture Holdings Limited is a multinational provider of Water-as-a-Service solutions. The Company’s segments are Seven Seas Water and Quench. The Seven Seas Water segment provides outsourced desalination solutions and wastewater treatment for governmental, municipal, industrial and hospitality customers.
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