JPMorgan Chase & Co. Acquires 309,177 Shares of American Water Works (AWK)
JPMorgan Chase & Co. grew its holdings in American Water Works (NYSE:AWK) by 56.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 853,175 shares of the utilities provider’s stock after purchasing an additional 309,177 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.48% of American Water Works worth $69,200,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Pinebridge Investments L.P. purchased a new stake in American Water Works during the 2nd quarter worth approximately $118,000. Peddock Capital Advisors LLC purchased a new stake in American Water Works during the 2nd quarter worth approximately $131,000. Aviance Capital Management LLC purchased a new stake in American Water Works during the 2nd quarter worth approximately $147,000. Almanack Investment Partners LLC. purchased a new stake in American Water Works during the 2nd quarter worth approximately $154,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in American Water Works by 8.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.
American Water Works (NYSE AWK) opened at $90.94 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.49. The firm has a market cap of $16,171.51, a PE ratio of 31.26, a price-to-earnings-growth ratio of 3.98 and a beta of 0.27. American Water Works has a 12 month low of $69.96 and a 12 month high of $91.97.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. The company had revenue of $936.00 million during the quarter, compared to analyst estimates of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. American Water Works’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. equities analysts forecast that American Water Works will post 3.01 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 1.83%. The ex-dividend date was Thursday, November 9th. American Water Works’s dividend payout ratio (DPR) is presently 56.27%.
In other news, insider Deborah A. Degillio sold 822 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $89.75, for a total value of $73,774.50. Following the completion of the transaction, the insider now owns 3,659 shares of the company’s stock, valued at $328,395.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Walter Lynch sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $89.95, for a total transaction of $449,750.00. Following the completion of the transaction, the chief operating officer now directly owns 97,667 shares of the company’s stock, valued at approximately $8,785,146.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,856 shares of company stock valued at $616,700. 0.34% of the stock is currently owned by insiders.
Several analysts have weighed in on AWK shares. Wells Fargo & Company set a $89.00 target price on shares of American Water Works and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Robert W. Baird upped their price objective on shares of American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Janney Montgomery Scott downgraded shares of American Water Works from a “buy” rating to a “neutral” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. American Water Works currently has a consensus rating of “Hold” and a consensus price target of $85.63.
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American Water Works Company 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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