American Water Works Company Inc (AWK) Holdings Boosted by Patten & Patten Inc. TN

Patten & Patten Inc. TN raised its position in American Water Works Company Inc (NYSE:AWK) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,965 shares of the utilities provider’s stock after buying an additional 1,975 shares during the quarter. Patten & Patten Inc. TN’s holdings in American Water Works were worth $1,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in American Water Works by 3.3% in the 2nd quarter. BlackRock Inc. now owns 13,605,841 shares of the utilities provider’s stock valued at $1,161,668,000 after buying an additional 437,246 shares during the period. Wells Fargo & Company MN increased its holdings in American Water Works by 19.1% in the 2nd quarter. Wells Fargo & Company MN now owns 3,663,972 shares of the utilities provider’s stock valued at $312,830,000 after buying an additional 586,729 shares during the period. Northern Trust Corp increased its holdings in American Water Works by 1.7% in the 2nd quarter. Northern Trust Corp now owns 3,584,418 shares of the utilities provider’s stock valued at $306,037,000 after buying an additional 60,070 shares during the period. Bessemer Group Inc. increased its holdings in American Water Works by 35.7% in the 2nd quarter. Bessemer Group Inc. now owns 3,037,757 shares of the utilities provider’s stock valued at $259,363,000 after buying an additional 798,684 shares during the period. Finally, Royal Bank of Canada increased its holdings in American Water Works by 1.3% in the 1st quarter. Royal Bank of Canada now owns 1,999,120 shares of the utilities provider’s stock valued at $164,187,000 after buying an additional 25,434 shares during the period. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

In other American Water Works news, SVP Melanie M. Kennedy sold 1,114 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $88.78, for a total transaction of $98,900.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Loyd A. Warnock sold 10,520 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $87.86, for a total transaction of $924,287.20. Following the sale, the senior vice president now directly owns 12,322 shares in the company, valued at $1,082,610.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,634 shares of company stock worth $1,918,888 over the last ninety days. 0.35% of the stock is currently owned by insiders.

Shares of American Water Works stock opened at $89.95 on Thursday. The company has a market cap of $15.88 billion, a P/E ratio of 29.69, a P/E/G ratio of 3.45 and a beta of 0.11. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.27 and a current ratio of 0.28. American Water Works Company Inc has a 1 year low of $76.04 and a 1 year high of $92.37.

American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $866.02 million. American Water Works had a net margin of 13.94% and a return on equity of 10.32%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. Equities research analysts forecast that American Water Works Company Inc will post 3.27 EPS for the current year.

Several research firms have commented on AWK. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Monday, July 23rd. ValuEngine raised shares of American Water Works from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Evercore ISI assumed coverage on shares of American Water Works in a report on Monday, September 17th. They issued an “outperform” rating and a $96.00 target price on the stock. Finally, Boenning Scattergood reaffirmed a “neutral” rating on shares of American Water Works in a report on Thursday, June 28th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $90.42.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.

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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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