MML Investors Services LLC boosted its position in shares of American Water Works Company Inc (NYSE:AWK) by 53.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,884 shares of the utilities provider’s stock after acquiring an additional 3,090 shares during the period. MML Investors Services LLC’s holdings in American Water Works were worth $926,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AWK. Norges Bank acquired a new position in American Water Works during the 4th quarter worth approximately $218,024,000. Vanguard Group Inc grew its holdings in American Water Works by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 19,220,656 shares of the utilities provider’s stock worth $1,690,841,000 after acquiring an additional 436,131 shares in the last quarter. BlackRock Inc. grew its holdings in American Water Works by 2.2% during the 4th quarter. BlackRock Inc. now owns 14,335,088 shares of the utilities provider’s stock worth $1,301,195,000 after acquiring an additional 311,893 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in American Water Works by 66.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 692,358 shares of the utilities provider’s stock worth $62,845,000 after acquiring an additional 276,116 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in American Water Works by 40.2% during the 4th quarter. California Public Employees Retirement System now owns 932,573 shares of the utilities provider’s stock worth $84,650,000 after acquiring an additional 267,380 shares in the last quarter. Institutional investors own 84.42% of the company’s stock.
In related news, COO Walter Lynch sold 18,545 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $111.15, for a total value of $2,061,276.75. Following the completion of the sale, the chief operating officer now owns 118,583 shares in the company, valued at approximately $13,180,500.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael A. Sgro sold 6,680 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.93, for a total transaction of $741,012.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,556 shares of company stock valued at $7,477,635. 0.36% of the stock is owned by insiders.
AWK has been the subject of several research analyst reports. Wells Fargo & Co cut shares of American Water Works from an “outperform” rating to a “market perform” rating and set a $111.00 target price for the company. in a report on Tuesday, March 26th. They noted that the move was a valuation call. Janney Montgomery Scott restated a “buy” rating and issued a $121.00 target price (up previously from $102.00) on shares of American Water Works in a report on Thursday, May 2nd. Bank of America upped their target price on shares of American Water Works from $92.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 21st. Zacks Investment Research upgraded shares of American Water Works from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Thursday, May 16th. Finally, Boenning Scattergood restated a “hold” rating on shares of American Water Works in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. American Water Works currently has a consensus rating of “Buy” and a consensus price target of $109.67.
Shares of American Water Works stock opened at $116.68 on Friday. American Water Works Company Inc has a 12-month low of $78.91 and a 12-month high of $119.28. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $21.14 billion, a PE ratio of 35.36, a P/E/G ratio of 4.03 and a beta of 0.19.
American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.02). American Water Works had a net margin of 16.44% and a return on equity of 10.25%. The company had revenue of $813.00 million during the quarter, compared to analyst estimates of $792.73 million. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that American Water Works Company Inc will post 3.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 13th were given a $0.50 dividend. This is an increase from American Water Works’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 10th. This represents a $2.00 annualized dividend and a yield of 1.71%. American Water Works’s dividend payout ratio is 60.61%.
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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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