Perennial Advisors LLC reduced its position in American Water Works Company Inc (NYSE:AWK) by 2.3% during the 2nd quarter, Holdings Channel reports. The firm owned 25,703 shares of the utilities provider’s stock after selling 594 shares during the period. Perennial Advisors LLC’s holdings in American Water Works were worth $2,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Employees Retirement System of Texas grew its holdings in shares of American Water Works by 43.2% during the second quarter. Employees Retirement System of Texas now owns 53,000 shares of the utilities provider’s stock valued at $4,525,000 after buying an additional 16,000 shares during the last quarter. Country Trust Bank grew its holdings in shares of American Water Works by 39.1% during the second quarter. Country Trust Bank now owns 201,973 shares of the utilities provider’s stock valued at $17,244,000 after buying an additional 56,823 shares during the last quarter. Hartford Financial Management Inc. purchased a new stake in shares of American Water Works during the second quarter valued at $3,415,000. Credit Agricole S A grew its holdings in shares of American Water Works by 50.9% during the second quarter. Credit Agricole S A now owns 2,382 shares of the utilities provider’s stock valued at $203,000 after buying an additional 803 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of American Water Works by 7.5% during the second quarter. Meadow Creek Investment Management LLC now owns 10,144 shares of the utilities provider’s stock valued at $866,000 after buying an additional 704 shares during the last quarter. 83.50% of the stock is currently owned by institutional investors and hedge funds.
In other American Water Works news, SVP Melanie M. Kennedy sold 1,114 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $88.78, for a total value of $98,900.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.
NYSE:AWK traded up $0.32 during mid-day trading on Thursday, hitting $88.01. The company’s stock had a trading volume of 12,379 shares, compared to its average volume of 530,413. American Water Works Company Inc has a 1 year low of $76.04 and a 1 year high of $92.37. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.27 and a current ratio of 0.28. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 3.44 and a beta of 0.16.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. American Water Works had a net margin of 13.94% and a return on equity of 10.32%. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $866.02 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. equities research analysts predict that American Water Works Company Inc will post 3.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, August 9th. American Water Works’s payout ratio is 60.07%.
AWK has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Monday, July 23rd. Argus reissued a “buy” rating and set a $105.00 price objective on shares of American Water Works in a report on Tuesday, May 8th. ValuEngine lowered shares of American Water Works from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of American Water Works in a report on Thursday, June 28th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Water Works currently has an average rating of “Buy” and a consensus price target of $89.79.
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. 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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