Water Asset Management LLC increased its stake in shares of A. O. Smith Corp (NYSE:AOS) by 5.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,481 shares of the industrial products company’s stock after buying an additional 11,512 shares during the quarter. A. O. Smith comprises 6.5% of Water Asset Management LLC’s holdings, making the stock its 7th largest position. Water Asset Management LLC owned 0.14% of A. O. Smith worth $14,847,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of A. O. Smith by 2.0% in the 1st quarter. BlackRock Inc. now owns 10,100,010 shares of the industrial products company’s stock valued at $642,259,000 after purchasing an additional 196,941 shares during the period. Alliancebernstein L.P. raised its stake in shares of A. O. Smith by 15.5% during the 4th quarter. Alliancebernstein L.P. now owns 4,074,225 shares of the industrial products company’s stock worth $249,669,000 after buying an additional 547,648 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of A. O. Smith by 2.8% during the 1st quarter. Wells Fargo & Company MN now owns 1,969,897 shares of the industrial products company’s stock worth $125,266,000 after buying an additional 53,528 shares in the last quarter. Impax Asset Management LTD raised its stake in shares of A. O. Smith by 5.0% during the 4th quarter. Impax Asset Management LTD now owns 1,935,569 shares of the industrial products company’s stock worth $118,612,000 after buying an additional 91,809 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of A. O. Smith by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 1,740,078 shares of the industrial products company’s stock worth $106,429,000 after acquiring an additional 39,859 shares during the period. Hedge funds and other institutional investors own 74.40% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded A. O. Smith from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Tuesday. ValuEngine raised A. O. Smith from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Stifel Nicolaus raised their price objective on A. O. Smith from $63.00 to $67.00 and gave the company a “hold” rating in a research report on Friday, April 27th. DA Davidson assumed coverage on A. O. Smith in a research report on Thursday, April 12th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Boenning Scattergood raised A. O. Smith from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 22nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. A. O. Smith presently has an average rating of “Buy” and an average price target of $69.83.
Shares of NYSE:AOS opened at $59.15 on Friday. A. O. Smith Corp has a 12 month low of $53.23 and a 12 month high of $68.39. The company has a market cap of $10.02 billion, a P/E ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.53. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. A. O. Smith had a return on equity of 23.77% and a net margin of 10.10%. The company had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $791.76 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. analysts anticipate that A. O. Smith Corp will post 2.59 earnings per share for the current fiscal year.
In related news, VP Robert J. Heideman sold 3,669 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $63.76, for a total value of $233,935.44. Following the completion of the sale, the vice president now directly owns 32,241 shares in the company, valued at $2,055,686.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ajita G. Rajendra sold 2,600 shares of the company’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $64.60, for a total transaction of $167,960.00. Following the completion of the sale, the chairman now owns 301,018 shares of the company’s stock, valued at $19,445,762.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,481 shares of company stock worth $2,013,788. Corporate insiders own 1.28% of the company’s stock.
A. O. Smith Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtrations products for residences, restaurants, hotels, and offices.
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