Gateway Investment Advisers LLC decreased its position in American Water Works Company Inc (NYSE:AWK) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,595 shares of the utilities provider’s stock after selling 1,668 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American Water Works were worth $1,105,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc increased its position in shares of American Water Works by 2.3% in the third quarter. Vanguard Group Inc now owns 19,220,656 shares of the utilities provider’s stock valued at $1,690,841,000 after acquiring an additional 436,131 shares during the period. BlackRock Inc. increased its position in shares of American Water Works by 2.2% in the fourth quarter. BlackRock Inc. now owns 14,335,088 shares of the utilities provider’s stock valued at $1,301,195,000 after acquiring an additional 311,893 shares during the period. Bank of America Corp DE increased its position in shares of American Water Works by 0.9% in the fourth quarter. Bank of America Corp DE now owns 3,528,169 shares of the utilities provider’s stock valued at $320,252,000 after acquiring an additional 32,537 shares during the period. Norges Bank purchased a new position in shares of American Water Works in the fourth quarter valued at about $218,024,000. Finally, Geode Capital Management LLC increased its position in shares of American Water Works by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,362,440 shares of the utilities provider’s stock valued at $214,070,000 after acquiring an additional 161,731 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Shares of NYSE AWK opened at $103.96 on Tuesday. American Water Works Company Inc has a 1 year low of $77.73 and a 1 year high of $107.71. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.35 and a current ratio of 0.37. The stock has a market cap of $18.80 billion, a P/E ratio of 31.50, a P/E/G ratio of 3.61 and a beta of 0.25.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. American Water Works had a net margin of 16.48% and a return on equity of 10.36%. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $823.93 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. American Water Works’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that American Water Works Company Inc will post 3.58 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Wells Fargo & Co cut shares of American Water Works from an “outperform” rating to a “market perform” rating and set a $111.00 price objective on the stock. in a research report on Tuesday, March 26th. They noted that the move was a valuation call. Janney Montgomery Scott restated a “buy” rating and issued a $102.00 price objective on shares of American Water Works in a research report on Thursday, February 21st. Bank of America boosted their price target on shares of American Water Works from $92.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, February 21st. Finally, Zacks Investment Research reiterated a “buy” rating and set a $104.00 price target on shares of American Water Works in a research report on Monday, December 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. American Water Works currently has an average rating of “Buy” and a consensus price target of $103.57.
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.
Further Reading: Systematic Risk and Investors
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