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Stock Alert: Evoqua Water On The Rise

Shares of Evoqua Water Technologies (AQUA) have been climbing after it reported fourth-quarter results in November. The stock closed at $19.48, up 3.51% on Tuesday.

Revenues in the fourth quarter had risen 12.6% to $412.5 million from the prior-year period. Net income also improved to $1.69 million or $0.01 per share from net loss of $3.45 million or $0.03 per share in the corresponding quarter last year.

For fiscal 2019, revenues were $1.44 billion, 7.8% higher year-over-year, in line with expectations.

Looking forward to full-year, revenues are expected in the range of $1.40 billion to $1.46 billion compared with analysts estimate of $1.44 billion.

There were reports of First Trust Advisors LP increasing its stake in Evoqua by 14.7% in the third quarter.

The sale of the company's Memcor membrane business to DuPont Safety & Construction, which was announced in October, is expected to be completed this month. In October, Evoqua acquired a major stake in San Diego-based Frontier Water Systems, LLC.

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