Verition Fund Management LLC purchased a new stake in shares of American Water (NYSE:AWK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,423 shares of the utilities provider’s stock, valued at approximately $1,137,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Resources Investment Advisors Inc. bought a new stake in American Water during the fourth quarter worth approximately $152,000. Truewealth LLC bought a new stake in American Water during the fourth quarter worth approximately $189,000. Edgewood Management LLC bought a new stake in American Water during the third quarter worth approximately $202,000. Kalos Management Inc. bought a new stake in American Water during the third quarter worth approximately $209,000. Finally, Lakeview Capital Partners LLC bought a new stake in American Water during the fourth quarter worth approximately $214,000. 84.75% of the stock is currently owned by institutional investors.
Several brokerages recently commented on AWK. ValuEngine raised American Water from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. UBS upped their price target on American Water from $89.00 to $91.00 and gave the company a “buy” rating in a report on Friday, March 23rd. Guggenheim reaffirmed a “hold” rating and issued a $82.00 price target on shares of American Water in a report on Friday, February 23rd. Bank of America set a $84.00 price target on American Water and gave the company a “hold” rating in a report on Thursday, February 22nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $88.00 price target (down previously from $91.00) on shares of American Water in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $89.24.
Shares of American Water stock traded down $0.19 on Friday, hitting $81.92. 1,216,387 shares of the company traded hands, compared to its average volume of 861,613. The company has a quick ratio of 0.29, a current ratio of 0.31 and a debt-to-equity ratio of 1.21. American Water has a 12-month low of $74.63 and a 12-month high of $92.37. The stock has a market cap of $14,626.98, a P/E ratio of 27.04, a P/E/G ratio of 3.37 and a beta of 0.16.
American Water (NYSE:AWK) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. American Water had a net margin of 12.69% and a return on equity of 10.03%. The business had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $843.36 million. During the same period in the previous year, the company posted $0.57 EPS. American Water’s revenue was up 2.4% on a year-over-year basis. equities research analysts expect that American Water will post 3.26 earnings per share for the current fiscal year.
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About American Water
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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