Meeder Asset Management Inc. increased its stake in American Water Works Company Inc (NYSE:AWK) by 88.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,504 shares of the utilities provider’s stock after purchasing an additional 3,519 shares during the quarter. Meeder Asset Management Inc.’s holdings in American Water Works were worth $871,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tortoise Index Solutions LLC raised its stake in American Water Works by 3.1% in the 1st quarter. Tortoise Index Solutions LLC now owns 3,193 shares of the utilities provider’s stock valued at $333,000 after acquiring an additional 96 shares during the period. Welch & Forbes LLC raised its stake in American Water Works by 1.3% in the 1st quarter. Welch & Forbes LLC now owns 7,756 shares of the utilities provider’s stock valued at $808,000 after acquiring an additional 100 shares during the period. JNBA Financial Advisors raised its stake in American Water Works by 28.6% in the 2nd quarter. JNBA Financial Advisors now owns 450 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 100 shares during the period. Stephens Inc. AR raised its stake in American Water Works by 1.1% in the 1st quarter. Stephens Inc. AR now owns 9,598 shares of the utilities provider’s stock valued at $1,001,000 after acquiring an additional 103 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in American Water Works by 3.5% in the 1st quarter. HighPoint Advisor Group LLC now owns 3,094 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 106 shares during the period. 84.51% of the stock is owned by institutional investors.
AWK stock opened at $123.59 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.56 and a quick ratio of 0.53. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 4.26 and a beta of 0.17. The business’s fifty day moving average price is $118.12 and its two-hundred day moving average price is $109.86. American Water Works Company Inc has a fifty-two week low of $85.88 and a fifty-two week high of $125.31.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, August 8th. American Water Works’s payout ratio is 60.61%.
A number of equities research analysts recently weighed in on AWK shares. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Thursday, May 16th. Bank of America cut American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price target on the stock. in a research note on Monday, July 15th. They noted that the move was a valuation call. Janney Montgomery Scott restated a “buy” rating and issued a $121.00 price target (up previously from $102.00) on shares of American Water Works in a research note on Thursday, May 2nd. Finally, Wells Fargo & Co increased their price target on American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $114.67.
In other American Water Works news, SVP Loyd A. Warnock sold 4,023 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $116.97, for a total transaction of $470,570.31. Following the transaction, the senior vice president now owns 11,895 shares in the company, valued at approximately $1,391,358.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Walter Lynch sold 3,372 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $112.90, for a total value of $380,698.80. Following the transaction, the chief operating officer now owns 106,666 shares in the company, valued at approximately $12,042,591.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $4,090,814 in the last quarter. Company insiders own 0.36% of the company’s stock.
About American Water Works
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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