AMF Pensionsforsakring AB trimmed its stake in American Water (NYSE:AWK) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,265 shares of the utilities provider’s stock after selling 15,856 shares during the period. AMF Pensionsforsakring AB owned approximately 0.14% of American Water worth $20,226,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Scout Investments Inc. bought a new position in shares of American Water in the first quarter worth approximately $3,343,000. Canandaigua National Bank & Trust Co. increased its position in shares of American Water by 12.4% in the first quarter. Canandaigua National Bank & Trust Co. now owns 6,257 shares of the utilities provider’s stock worth $514,000 after purchasing an additional 691 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of American Water in the first quarter worth approximately $61,281,000. Korea Investment CORP increased its position in shares of American Water by 10.1% in the first quarter. Korea Investment CORP now owns 506,114 shares of the utilities provider’s stock worth $41,567,000 after purchasing an additional 46,461 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in American Water by 11.0% in the first quarter. Venturi Wealth Management LLC now owns 56,843 shares of the utilities provider’s stock worth $4,669,000 after buying an additional 5,614 shares in the last quarter. Institutional investors own 84.20% of the company’s stock.
AWK has been the subject of several research reports. Bank of America set a $84.00 target price on American Water and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Argus reaffirmed a “buy” rating and issued a $105.00 target price on shares of American Water in a research note on Tuesday, May 8th. UBS upped their target price on American Water from $89.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, March 23rd. Janney Montgomery Scott raised American Water from a “neutral” rating to a “buy” rating and upped their target price for the stock from $87.00 to $92.00 in a research note on Monday, April 16th. They noted that the move was a valuation call. Finally, ValuEngine raised American Water from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $89.52.
In other news, EVP Michael A. Sgro sold 16,026 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $80.54, for a total transaction of $1,290,734.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.
NYSE:AWK opened at $82.05 on Friday. The company has a market cap of $14.33 billion, a PE ratio of 27.08, a P/E/G ratio of 3.19 and a beta of 0.15. American Water has a fifty-two week low of $76.04 and a fifty-two week high of $92.37. The company has a quick ratio of 0.27, a current ratio of 0.29 and a debt-to-equity ratio of 1.17.
American Water (NYSE:AWK) last released its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $726.74 million. American Water had a return on equity of 10.20% and a net margin of 13.06%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. sell-side analysts anticipate that American Water will post 3.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, May 10th. This is a positive change from American Water’s previous quarterly dividend of $0.42. American Water’s dividend payout ratio is 60.07%.
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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