FIL Ltd decreased its position in shares of American Water Works Company Inc (NYSE:AWK) by 0.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,704 shares of the utilities provider’s stock after selling 447 shares during the quarter. FIL Ltd owned about 0.26% of American Water Works worth $48,450,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrett Asset Management LLC bought a new stake in American Water Works during the first quarter worth $25,000. Larson Financial Group LLC bought a new stake in American Water Works during the fourth quarter worth $28,000. Citizens Financial Group Inc RI bought a new stake in American Water Works during the first quarter worth $30,000. Capital Financial Planning LLC bought a new stake in American Water Works during the fourth quarter worth $31,000. Finally, Financial Gravity Companies Inc. bought a new stake in American Water Works during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 84.28% of the company’s stock.
Several brokerages recently issued reports on AWK. Janney Montgomery Scott reiterated a “buy” rating and set a $121.00 price target (up previously from $102.00) on shares of American Water Works in a report on Thursday, May 2nd. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Wells Fargo & Co downgraded American Water Works from an “outperform” rating to a “market perform” rating and set a $111.00 price objective for the company. in a research note on Tuesday, March 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded American Water Works from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $109.67.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). American Water Works had a net margin of 16.44% and a return on equity of 10.25%. The firm had revenue of $813.00 million for the quarter, compared to analysts’ expectations of $792.73 million. During the same period in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts forecast that American Water Works Company Inc will post 3.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 13th were issued a dividend of $0.50 per share. This is a boost from American Water Works’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.73%. American Water Works’s dividend payout ratio is 60.61%.
In related news, 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 transaction of $380,698.80. Following the sale, the chief operating officer now owns 106,666 shares of the company’s stock, valued at approximately $12,042,591.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan N. Story sold 28,457 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $113.84, for a total value of $3,239,544.88. The disclosure for this sale can be found here. Insiders have sold a total of 66,556 shares of company stock worth $7,477,635 in the last three months. 0.36% of the stock is currently owned by insiders.
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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