American Water Works (NYSE:AWK) had its price target increased by Wells Fargo & Co from $122.00 to $128.00 in a report released on Wednesday, The Fly reports. They currently have a market perform rating on the utilities provider’s stock.
Several other equities analysts have also recently issued reports on the stock. Bank of America cut shares of American Water Works from a neutral rating to an underperform rating and set a $116.00 price objective on the stock. in a research note on Monday, July 15th. They noted that the move was a valuation call. Janney Montgomery Scott reissued a buy rating and issued a $121.00 price objective (up from $102.00) on shares of American Water Works in a research note on Thursday, May 2nd. Boenning Scattergood reissued a hold rating on shares of American Water Works in a research note on Thursday, May 2nd. Finally, Zacks Investment Research raised shares of American Water Works from a hold rating to a buy rating and set a $123.00 price objective on the stock in a research note on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. American Water Works presently has a consensus rating of Buy and a consensus target price of $114.67.
AWK traded up $2.10 during trading on Wednesday, hitting $123.30. The stock had a trading volume of 23,057 shares, compared to its average volume of 942,728. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of 37.40, a P/E/G ratio of 4.21 and a beta of 0.17. The business has a 50-day moving average of $116.96. American Water Works has a twelve month low of $85.88 and a twelve month high of $123.46.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, August 8th. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. American Water Works’s payout ratio is currently 60.61%.
In other American Water Works news, insider Susan N. Story sold 28,457 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $113.84, for a total transaction of $3,239,544.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Walter Lynch sold 3,372 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $112.90, for a total transaction of $380,698.80. Following the sale, the chief operating officer now owns 106,666 shares in the company, valued at $12,042,591.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $4,090,814 over the last 90 days. Insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of American Water Works by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 21,855,515 shares of the utilities provider’s stock worth $2,535,240,000 after buying an additional 174,708 shares in the last quarter. BlackRock Inc. boosted its position in shares of American Water Works by 5.7% in the 2nd quarter. BlackRock Inc. now owns 15,396,801 shares of the utilities provider’s stock worth $1,786,029,000 after buying an additional 827,507 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Water Works by 17.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,771,839 shares of the utilities provider’s stock worth $1,017,533,000 after buying an additional 1,293,688 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of American Water Works by 0.3% in the 2nd quarter. Wells Fargo & Company MN now owns 3,759,373 shares of the utilities provider’s stock worth $436,087,000 after buying an additional 12,421 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of American Water Works by 3.4% in the 1st quarter. Northern Trust Corp now owns 3,668,158 shares of the utilities provider’s stock worth $382,443,000 after buying an additional 122,185 shares in the last quarter. Institutional investors own 84.23% of the company’s stock.
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 serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.
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