Prospera Financial Services Inc Acquires 2,880 Shares of American Water Works (AWK)
Prospera Financial Services Inc raised its position in shares of American Water Works (NYSE:AWK) by 81.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,435 shares of the company’s stock after buying an additional 2,880 shares during the period. Prospera Financial Services Inc’s holdings in American Water Works were worth $544,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of American Water Works by 63.1% in the first quarter. Lazard Asset Management LLC now owns 2,147 shares of the company’s stock worth $147,000 after buying an additional 831 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of American Water Works by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,310 shares of the company’s stock worth $195,000 after buying an additional 10 shares during the last quarter. Northstar Asset Management LLC acquired a new position in shares of American Water Works during the second quarter worth about $245,000. Mn Services Vermogensbeheer B.V. acquired a new position in shares of American Water Works during the first quarter worth about $270,000. Finally, ING Groep NV acquired a new position in shares of American Water Works during the first quarter worth about $281,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
American Water Works (NYSE:AWK) traded up 0.77% during midday trading on Thursday, reaching $77.36. 1,015,702 shares of the company traded hands. American Water Works has a 12-month low of $53.58 and a 12-month high of $85.24. The stock has a market capitalization of $13.76 billion, a P/E ratio of 28.21 and a beta of 0.16. The company has a 50 day moving average of $75.97 and a 200-day moving average of $75.25.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. The firm earned $827 million during the quarter, compared to analysts’ expectations of $832.47 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that American Water Works will post $2.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, August 4th. American Water Works’s dividend payout ratio (DPR) is currently 54.74%.
A number of equities analysts have issued reports on the stock. Bank of America Corp. cut shares of American Water Works from a “buy” rating to a “neutral” rating and raised their price objective for the company from $71.92 to $88.00 in a research note on Wednesday, July 6th. They noted that the move was a valuation call. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price target on the stock in a research report on Friday, July 8th. Barclays PLC reduced their price target on shares of American Water Works from $87.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 6th. Argus began coverage on shares of American Water Works in a research report on Friday, June 24th. They set a “buy” rating and a $88.00 price target on the stock. Finally, Vetr raised shares of American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target on the stock in a research report on Thursday, August 4th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.26.
In other American Water Works news, SVP Mark F. Strauss sold 15,467 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $76.08, for a total value of $1,176,729.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Walter Lynch sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $76.00, for a total transaction of $760,000.00. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
American Water Works Company Profile
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
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