American Water Works (AWK) Stake Lifted by Fmr LLC
Fmr LLC lifted its holdings in American Water Works (NYSE:AWK) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,455 shares of the utilities provider’s stock after purchasing an additional 17,293 shares during the quarter. Fmr LLC owned 0.06% of American Water Works worth $7,752,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AWK. Wellington Management Group LLP grew its stake in shares of American Water Works by 89.3% in the first quarter. Wellington Management Group LLP now owns 67,064 shares of the utilities provider’s stock worth $5,216,000 after purchasing an additional 31,644 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of American Water Works by 6.1% in the first quarter. Thrivent Financial For Lutherans now owns 6,560 shares of the utilities provider’s stock worth $510,000 after purchasing an additional 380 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of American Water Works by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 418,472 shares of the utilities provider’s stock worth $32,541,000 after purchasing an additional 9,787 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of American Water Works in the first quarter worth $750,000. Finally, Atlantic Trust LLC bought a new position in shares of American Water Works in the first quarter worth $206,000. 79.82% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on the company. Robert W. Baird reissued a “hold” rating and issued a $82.00 price target on shares of American Water Works in a research note on Sunday, October 1st. Bank of America Corporation assumed coverage on American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price target for the company. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Finally, Zacks Investment Research cut American Water Works from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $85.01.
In other news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $82.05, for a total transaction of $273,636.75. Following the completion of the sale, the chief operating officer now owns 94,702 shares in the company, valued at $7,770,299.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.
American Water Works (NYSE:AWK) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. The company had revenue of $936.00 million during the quarter, compared to the consensus estimate of $992.58 million. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.415 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.89%. American Water Works’s payout ratio is currently 62.64%.
American Water Works Profile
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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