Envestnet Asset Management Inc. lifted its position in shares of American Water Works (NYSE:AWK) by 48.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,032 shares of the utilities provider’s stock after purchasing an additional 3,612 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American Water Works were worth $892,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Nippon Life Global Investors Americas Inc. raised its position in shares of American Water Works by 36.3% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 85,450 shares of the utilities provider’s stock worth $6,913,000 after purchasing an additional 22,750 shares during the period. Private Advisor Group LLC raised its position in shares of American Water Works by 10.4% during the third quarter. Private Advisor Group LLC now owns 18,284 shares of the utilities provider’s stock worth $1,519,000 after purchasing an additional 1,721 shares during the period. HCR Wealth Advisors acquired a new position in shares of American Water Works during the third quarter worth approximately $2,800,000. OxFORD Asset Management LLP acquired a new position in shares of American Water Works during the third quarter worth approximately $737,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of American Water Works by 62.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 19,339 shares of the utilities provider’s stock worth $1,565,000 after purchasing an additional 7,435 shares during the period. 80.79% of the stock is currently owned by institutional investors.
AWK has been the topic of a number of research reports. Zacks Investment Research lowered American Water Works from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Robert W. Baird upped their target price on American Water Works from $82.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Janney Montgomery Scott lowered American Water Works from a “buy” rating to a “neutral” rating in a research report on Friday, November 3rd. They noted that the move was a valuation call. Wells Fargo & Company set a $89.00 target price on American Water Works and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Bank of America initiated coverage on American Water Works in a research report on Tuesday, October 24th. They set a “buy” rating and a $95.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $88.43.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. The business had revenue of $936.00 million during 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%. American Water Works’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. equities analysts anticipate that American Water Works will post 3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be given a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, February 6th. American Water Works’s payout ratio is currently 56.27%.
In related news, COO Walter Lynch sold 5,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 97,667 shares of the company’s stock, valued at approximately $8,785,146.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael A. Sgro sold 841 shares of the stock in a transaction 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. Insiders sold a total of 6,856 shares of company stock valued at $616,700 over the last three months. 0.34% of the stock is currently owned by insiders.
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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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