Neuberger Berman Group LLC decreased its holdings in shares of American Water Works (NYSE:AWK) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 723,628 shares of the utilities provider’s stock after selling 60,963 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.41% of American Water Works worth $58,549,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Pinebridge Investments L.P. purchased a new stake in American Water Works in the second quarter valued at approximately $118,000. Peddock Capital Advisors LLC purchased a new stake in American Water Works in the second quarter valued at approximately $131,000. Aviance Capital Management LLC purchased a new stake in American Water Works in the second quarter valued at approximately $147,000. Almanack Investment Partners LLC. purchased a new stake in American Water Works in the second quarter valued at approximately $154,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in American Water Works by 8.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the utilities provider’s stock valued at $190,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.
A number of brokerages have weighed in on AWK. Robert W. Baird boosted their price objective on American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Janney Montgomery Scott cut American Water Works from a “buy” rating to a “neutral” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research note on Thursday, November 2nd. Bank of America began coverage on American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price objective for the company. 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.63.
American Water Works (NYSE:AWK) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.08. The business had revenue of $936.00 million for the quarter, compared to analyst estimates of $992.58 million. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. sell-side analysts forecast that American Water Works will post 3.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, February 6th. American Water Works’s payout ratio is currently 56.27%.
In other news, COO Walter Lynch sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. Following the transaction, the chief operating officer now owns 97,667 shares of the company’s stock, valued at $8,785,146.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael A. Sgro sold 841 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $90.03, for a total value of $75,715.23. The disclosure for this sale can be found here. In the last three months, insiders sold 6,856 shares of company stock worth $616,700. Corporate insiders own 0.34% of the company’s stock.
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About American Water Works
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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