Martingale Asset Management L P lowered its position in American Water Works (NYSE:AWK) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,715 shares of the utilities provider’s stock after selling 1,400 shares during the quarter. Martingale Asset Management L P’s holdings in American Water Works were worth $1,927,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. grew its stake in American Water Works by 25.5% in the second quarter. Alliancebernstein L.P. now owns 1,329,726 shares of the utilities provider’s stock valued at $103,652,000 after purchasing an additional 269,907 shares in the last quarter. Aberdeen Asset Management PLC UK grew its stake in American Water Works by 26.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 56,283 shares of the utilities provider’s stock valued at $4,387,000 after purchasing an additional 11,612 shares in the last quarter. HPM Partners LLC grew its stake in American Water Works by 43.9% in the second quarter. HPM Partners LLC now owns 52,451 shares of the utilities provider’s stock valued at $3,377,000 after purchasing an additional 16,000 shares in the last quarter. AXA grew its stake in American Water Works by 5.5% in the second quarter. AXA now owns 170,036 shares of the utilities provider’s stock valued at $13,254,000 after purchasing an additional 8,920 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in American Water Works by 11.0% in the second quarter. Wells Fargo & Company MN now owns 2,532,449 shares of the utilities provider’s stock valued at $197,405,000 after purchasing an additional 251,271 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.
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Shares of American Water Works (NYSE:AWK) opened at 82.32 on Wednesday. The firm has a 50 day moving average price of $81.58 and a 200-day moving average price of $79.19. The firm has a market cap of $14.68 billion, a PE ratio of 31.08 and a beta of 0.25. American Water Works has a 12 month low of $69.41 and a 12 month high of $83.06.
American Water Works (NYSE:AWK) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.07). The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. American Water Works’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, analysts predict that American Water Works will post $3.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 9th were issued a $0.415 dividend. This represents a $1.66 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, August 7th. American Water Works’s payout ratio is 62.64%.
In other news, COO Walter Lynch sold 3,335 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $82.05, for a total value of $273,636.75. Following the completion of the transaction, the chief operating officer now owns 94,702 shares in the company, valued at approximately $7,770,299.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.
AWK has been the topic of a number of recent research reports. Northcoast Research initiated coverage on American Water Works in a research note on Thursday, May 25th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded American Water Works from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Vetr downgraded American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price on the stock. in a research note on Wednesday, June 14th. Finally, BidaskClub upgraded American Water Works from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $82.86.
American Water Works 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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