PNC Financial Services Group Inc. reduced its stake in American Water Works (NYSE:AWK) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,883,197 shares of the utilities provider’s stock after selling 27,806 shares during the quarter. PNC Financial Services Group Inc. owned approximately 1.06% of American Water Works worth $146,796,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its holdings in American Water Works by 349.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,045 shares during the period. Parallel Advisors LLC raised its holdings in American Water Works by 24.7% in the 1st quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 294 shares during the period. Van ECK Associates Corp raised its holdings in American Water Works by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 236 shares during the period. Peddock Capital Advisors LLC bought a new position in American Water Works in the 2nd quarter worth $131,000. Finally, Almanack Investment Partners LLC. bought a new position in American Water Works in the 2nd quarter worth $154,000. 79.93% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. Vetr cut American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price on the stock. in a report on Wednesday, June 14th. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised American Water Works from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Finally, Northcoast Research assumed coverage on American Water Works in a report on Thursday, May 25th. They issued a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $82.86.
In other American Water Works news, COO Walter Lynch sold 3,335 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $82.05, for a total value of $273,636.75. Following the sale, the chief operating officer now directly owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.
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American Water Works (NYSE:AWK) traded up 0.50% during midday trading on Friday, reaching $82.68. The company’s stock had a trading volume of 1,285,704 shares. The stock’s 50 day moving average price is $81.51 and its 200-day moving average price is $79.10. American Water Works has a one year low of $69.41 and a one year high of $83.06. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 31.21 and a beta of 0.25.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $869.52 million. During the same period in the previous year, the company posted $0.77 earnings per share. American Water Works’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that American Water Works will post $3.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th were issued a $0.415 dividend. This represents a $1.66 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, August 7th. American Water Works’s payout ratio is 62.64%.
American Water Works Company Profile
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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