Parsons Capital Management Inc. RI cut its stake in American Water Works Company Inc (NYSE:AWK) by 6.2% in the second quarter, HoldingsChannel.com reports. The fund owned 29,112 shares of the utilities provider’s stock after selling 1,919 shares during the period. Parsons Capital Management Inc. RI’s holdings in American Water Works were worth $3,377,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in AWK. Geode Capital Management LLC increased its position in shares of American Water Works by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,362,440 shares of the utilities provider’s stock valued at $214,070,000 after buying an additional 161,731 shares in the last quarter. Millennium Management LLC bought a new stake in shares of American Water Works in the 4th quarter valued at $2,507,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of American Water Works in the 1st quarter valued at $317,000. Virtu Financial LLC bought a new stake in shares of American Water Works in the 1st quarter valued at $474,000. Finally, Retirement Systems of Alabama increased its position in shares of American Water Works by 1.1% in the 1st quarter. Retirement Systems of Alabama now owns 84,168 shares of the utilities provider’s stock valued at $8,775,000 after buying an additional 931 shares in the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.
A number of analysts recently commented on the stock. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Thursday, May 16th. Wells Fargo & Co upped their price objective on shares of American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday. Janney Montgomery Scott restated a “buy” rating and issued a $121.00 price objective (up previously from $102.00) on shares of American Water Works in a research report on Thursday, May 2nd. Finally, Bank of America cut shares of American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price objective for the company. in a research report on Monday, July 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $114.67.
AWK stock traded up $3.09 during trading hours on Thursday, reaching $124.29. 37,892 shares of the stock were exchanged, compared to its average volume of 942,728. The firm’s 50-day simple moving average is $116.96. The company has a market cap of $22.06 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 4.21 and a beta of 0.17. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.56. American Water Works Company Inc has a 12 month low of $85.88 and a 12 month high of $123.46.
American Water Works (NYSE:AWK) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.94. The firm had revenue of $882.00 million during the quarter, compared to analysts’ expectations of $907.56 million. American Water Works had a return on equity of 10.51% and a net margin of 16.53%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Equities analysts expect that American Water Works Company Inc will post 3.6 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Thursday, August 8th. American Water Works’s dividend payout ratio (DPR) is presently 60.61%.
In other American Water Works news, SVP Loyd A. Warnock sold 4,023 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $116.97, for a total transaction of $470,570.31. Following the completion of the transaction, the senior vice president now owns 11,895 shares in the company, valued at approximately $1,391,358.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Walter Lynch sold 3,372 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $112.90, for a total value of $380,698.80. Following the transaction, the chief operating officer now owns 106,666 shares of the company’s stock, valued at approximately $12,042,591.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,852 shares of company stock valued at $4,090,814. Corporate insiders own 0.36% of the company’s stock.
American Water Works Company 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 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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