Duff & Phelps Investment Management Co. Purchases 49,825 Shares of American Water Works (AWK)
Duff & Phelps Investment Management Co. increased its position in American Water Works (NYSE:AWK) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,114,250 shares of the company’s stock after buying an additional 49,825 shares during the period. American Water Works accounts for approximately 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 29th largest position. Duff & Phelps Investment Management Co.’s holdings in American Water Works were worth $83,390,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in American Water Works by 12.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,650 shares of the company’s stock worth $308,000 after buying an additional 400 shares in the last quarter. American National Bank raised its position in American Water Works by 350.0% in the second quarter. American National Bank now owns 26,768 shares of the company’s stock worth $2,262,000 after buying an additional 20,820 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in American Water Works by 0.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 152,210 shares of the company’s stock worth $12,863,000 after buying an additional 1,415 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in American Water Works by 6.1% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 46,002 shares of the company’s stock worth $3,888,000 after buying an additional 2,661 shares in the last quarter. Finally, DNB Asset Management AS raised its position in American Water Works by 14.3% in the second quarter. DNB Asset Management AS now owns 17,628 shares of the company’s stock worth $1,490,000 after buying an additional 2,200 shares in the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Water Works (NYSE:AWK) opened at 74.90 on Tuesday. The stock’s 50 day moving average is $72.13 and its 200-day moving average is $76.07. American Water Works has a 52-week low of $56.40 and a 52-week high of $85.24. The firm has a market capitalization of $13.33 billion, a P/E ratio of 28.82 and a beta of 0.23.
American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, November 2nd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $930 million for the quarter, compared to analyst estimates of $944.98 million. American Water Works had a net margin of 14.19% and a return on equity of 9.85%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. On average, equities analysts forecast that American Water Works will post $2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 9th will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, November 7th. This represents a $1.50 annualized dividend and a yield of 2.02%. American Water Works’s dividend payout ratio (DPR) is 57.47%.
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A number of equities analysts recently issued reports on the company. Vetr raised American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target on the stock in a report on Thursday, August 4th. Barclays PLC lowered their price objective on American Water Works from $87.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, September 6th. Zacks Investment Research raised American Water Works from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Monday. Bank of America Corp. raised American Water Works from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $84.00 in a report on Wednesday, November 9th. Finally, Robert W. Baird began coverage on American Water Works in a report on Friday, October 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $79.08.
About American Water Works
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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