Friedberg Investment Management reduced its stake in shares of American Water Works (NYSE:AWK) by 82.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,250 shares of the utilities provider’s stock after selling 33,434 shares during the quarter. Friedberg Investment Management’s holdings in American Water Works were worth $587,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Trust Co. increased its stake in American Water Works by 1.0% in the 2nd quarter. Fiduciary Trust Co. now owns 4,852 shares of the utilities provider’s stock valued at $378,000 after buying an additional 50 shares during the last quarter. Atlantic Trust LLC boosted its holdings in shares of American Water Works by 2.1% during the 2nd quarter. Atlantic Trust LLC now owns 2,705 shares of the utilities provider’s stock worth $211,000 after buying an additional 55 shares during the period. Carret Asset Management LLC boosted its holdings in American Water Works by 0.8% in the 2nd quarter. Carret Asset Management LLC now owns 6,997 shares of the utilities provider’s stock valued at $545,000 after purchasing an additional 57 shares during the period. Homrich & Berg boosted its holdings in American Water Works by 1.9% in the 2nd quarter. Homrich & Berg now owns 3,800 shares of the utilities provider’s stock valued at $296,000 after purchasing an additional 72 shares during the period. Finally, Utah Retirement Systems boosted its holdings in American Water Works by 0.3% in the 2nd quarter. Utah Retirement Systems now owns 32,695 shares of the utilities provider’s stock valued at $2,548,000 after purchasing an additional 100 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.
American Water Works (AWK) traded up $0.14 during mid-day trading on Thursday, hitting $91.08. 515,845 shares of the company’s stock traded hands, compared to its average volume of 848,671. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.49 and a quick ratio of 0.47. American Water Works has a 52-week low of $69.96 and a 52-week high of $91.97. The stock has a market capitalization of $16,171.51, a P/E ratio of 31.26, a PEG ratio of 3.98 and a beta of 0.27.
American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $936.00 million for the quarter, compared to the consensus estimate of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. equities analysts forecast that American Water Works will post 3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Thursday, November 9th. American Water Works’s payout ratio is 56.27%.
In related news, insider Deborah A. Degillio sold 822 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $89.75, for a total transaction of $73,774.50. Following the sale, the insider now owns 3,659 shares in the company, valued at approximately $328,395.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Walter Lynch sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $89.95, for a total value of $449,750.00. Following the transaction, the chief operating officer now owns 97,667 shares in the company, valued at approximately $8,785,146.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,856 shares of company stock worth $616,700. 0.34% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on the stock. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Robert W. Baird restated a “hold” rating and issued a $82.00 price target on shares of American Water Works in a research report on Sunday, October 1st. Bank of America started coverage on shares of American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Janney Montgomery Scott downgraded shares of American Water Works from a “buy” rating to a “neutral” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $85.63.
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About American Water Works
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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