Magellan Asset Management Ltd Has $123.27 Million Stake in American Water Works Company Inc (AWK)

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Magellan Asset Management Ltd lifted its stake in American Water Works Company Inc (NYSE:AWK) by 17.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,443,832 shares of the utilities provider’s stock after acquiring an additional 209,751 shares during the period. American Water Works makes up about 0.4% of Magellan Asset Management Ltd’s holdings, making the stock its 23rd largest holding. Magellan Asset Management Ltd’s holdings in American Water Works were worth $123,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of American Water Works by 5.5% in the second quarter. Creative Planning now owns 12,154 shares of the utilities provider’s stock worth $1,038,000 after acquiring an additional 632 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of American Water Works by 3.3% in the second quarter. CIBC Asset Management Inc now owns 20,416 shares of the utilities provider’s stock worth $1,743,000 after acquiring an additional 643 shares during the period. Tiedemann Advisors LLC boosted its holdings in shares of American Water Works by 10.5% in the first quarter. Tiedemann Advisors LLC now owns 7,030 shares of the utilities provider’s stock worth $577,000 after acquiring an additional 670 shares during the period. Neuburgh Advisers LLC boosted its holdings in shares of American Water Works by 5.3% in the first quarter. Neuburgh Advisers LLC now owns 13,662 shares of the utilities provider’s stock worth $1,122,000 after acquiring an additional 682 shares during the period. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in shares of American Water Works 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 acquiring an additional 691 shares during the period. 83.50% of the stock is owned by hedge funds and other institutional investors.

NYSE:AWK opened at $89.50 on Thursday. The firm has a market cap of $15.80 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 3.43 and a beta of 0.11. American Water Works Company Inc has a 52-week low of $76.04 and a 52-week high of $92.37. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.28 and a quick ratio of 0.27.

American Water Works (NYSE:AWK) last posted its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. American Water Works had a return on equity of 10.32% and a net margin of 13.94%. The company had revenue of $853.00 million during the quarter, compared to analyst estimates of $866.02 million. During the same quarter last year, the company earned $0.73 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. equities research analysts anticipate that American Water Works Company Inc will post 3.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, August 9th. American Water Works’s dividend payout ratio (DPR) is currently 60.07%.

In other American Water Works news, SVP Loyd A. Warnock sold 10,520 shares of American Water Works stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $87.86, for a total transaction of $924,287.20. Following the completion of the sale, the senior vice president now owns 12,322 shares of the company’s stock, valued at $1,082,610.92. The sale was disclosed in a 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 dated Wednesday, August 15th. The stock was sold at an average price of $88.78, for a total value of $98,900.92. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Several equities research analysts recently issued reports on AWK shares. ValuEngine raised American Water Works from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research raised American Water Works from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 13th. Finally, Boenning Scattergood reissued a “neutral” rating on shares of American Water Works in a research note on Thursday, June 28th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $89.79.

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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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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