Tower Research Capital LLC TRC purchased a new position in American Water Works (NYSE:AWK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,337 shares of the company’s stock, valued at approximately $197,000.
Several other hedge funds and other institutional investors have also modified their holdings of AWK. Tobam purchased a new stake in American Water Works during the first quarter worth approximately $8,932,000. BlackRock Institutional Trust Company N.A. increased its stake in American Water Works by 5.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,581,237 shares of the company’s stock worth $453,645,000 after buying an additional 359,291 shares during the last quarter. BlackRock Fund Advisors increased its stake in American Water Works by 55.3% in the first quarter. BlackRock Fund Advisors now owns 3,539,542 shares of the company’s stock worth $243,981,000 after buying an additional 1,260,404 shares during the last quarter. BlackRock Group LTD increased its stake in American Water Works by 7.9% in the first quarter. BlackRock Group LTD now owns 2,783,983 shares of the company’s stock worth $191,901,000 after buying an additional 204,111 shares during the last quarter. Finally, BlackRock Inc. increased its stake in American Water Works by 13.1% in the first quarter. BlackRock Inc. now owns 1,080,175 shares of the company’s stock worth $74,457,000 after buying an additional 125,232 shares during the last quarter. 82.62% of the stock is currently owned by institutional investors.
Shares of American Water Works (NYSE:AWK) opened at 74.98 on Friday. American Water Works has a 52 week low of $54.68 and a 52 week high of $85.24. The stock’s 50 day moving average price is $75.53 and its 200 day moving average price is $75.55. The firm has a market capitalization of $13.34 billion, a P/E ratio of 27.35 and a beta of 0.16.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. The business had revenue of $827 million for the quarter, compared to analysts’ expectations of $832.47 million. During the same period last year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts predict that American Water Works will post $2.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, August 4th. American Water Works’s dividend payout ratio (DPR) is presently 54.74%.
A number of research firms have recently commented on AWK. Zacks Investment Research upgraded American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price objective for the company in a report on Friday, July 8th. Boenning Scattergood downgraded American Water Works from an “outperform” rating to a “neutral” rating in a report on Monday, June 6th. Bank of America Corp. downgraded American Water Works from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $71.92 to $88.00 in a report on Wednesday, July 6th. They noted that the move was a valuation call. Argus began coverage on American Water Works in a report on Friday, June 24th. They set a “buy” rating and a $88.00 price objective for the company. Finally, Barclays PLC dropped their price objective on American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, September 6th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. American Water Works presently has an average rating of “Hold” and a consensus price target of $78.26.
In other news, COO Walter Lynch sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $76.00, for a total transaction of $760,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark F. Strauss sold 15,467 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $76.08, for a total value of $1,176,729.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
American Water Works Company Profile
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
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