Rockefeller Capital Management L.P. lowered its stake in American Water Works Company Inc (NYSE:AWK) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 832,992 shares of the utilities provider’s stock after selling 15,390 shares during the period. American Water Works accounts for 1.1% of Rockefeller Capital Management L.P.’s portfolio, making the stock its 28th largest position. Rockefeller Capital Management L.P. owned 0.46% of American Water Works worth $73,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in American Water Works by 3.3% during the 2nd quarter. BlackRock Inc. now owns 13,605,841 shares of the utilities provider’s stock worth $1,161,668,000 after acquiring an additional 437,246 shares during the period. Wells Fargo & Company MN grew its holdings in American Water Works by 3.7% during the 3rd quarter. Wells Fargo & Company MN now owns 3,799,156 shares of the utilities provider’s stock worth $334,212,000 after acquiring an additional 135,184 shares during the period. Northern Trust Corp grew its holdings in American Water Works by 1.7% during the 2nd quarter. Northern Trust Corp now owns 3,584,418 shares of the utilities provider’s stock worth $306,037,000 after acquiring an additional 60,070 shares during the period. Bessemer Group Inc. grew its holdings in American Water Works by 35.7% during the 2nd quarter. Bessemer Group Inc. now owns 3,037,757 shares of the utilities provider’s stock worth $259,363,000 after acquiring an additional 798,684 shares during the period. Finally, Legal & General Group Plc grew its holdings in American Water Works by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 1,796,598 shares of the utilities provider’s stock worth $153,393,000 after acquiring an additional 74,613 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.
AWK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $98.00 target price for the company 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, September 17th. Finally, Evercore ISI initiated coverage on shares of American Water Works in a report on Monday, September 17th. They set an “outperform” rating and a $96.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Water Works presently has a consensus rating of “Buy” and a consensus price target of $90.42.
In other news, SVP Loyd A. Warnock sold 10,520 shares of American Water Works stock in a transaction on Friday, August 31st. The shares were sold at an average price of $87.86, for a total transaction of $924,287.20. Following the transaction, the senior vice president now directly owns 12,322 shares of the company’s stock, valued at $1,082,610.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Melanie M. Kennedy sold 1,114 shares of American Water Works stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $88.78, for a total transaction of $98,900.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,634 shares of company stock worth $1,918,888. Insiders own 0.35% of the company’s stock.
Shares of NYSE AWK opened at $87.38 on Monday. The firm has a market cap of $15.78 billion, a PE ratio of 28.84, a PEG ratio of 3.42 and a beta of 0.10. American Water Works Company Inc has a twelve month low of $76.04 and a twelve month high of $92.79. The company has a current ratio of 0.46, a quick ratio of 0.43 and a debt-to-equity ratio of 1.29.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. The company had revenue of $976.00 million for the quarter, compared to analysts’ expectations of $946.35 million. American Water Works had a net margin of 13.31% and a return on equity of 10.57%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. As a group, equities analysts anticipate that American Water Works Company Inc will post 3.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Monday, November 12th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.08%. American Water Works’s dividend payout ratio is 60.07%.
American Water Works Profile
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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