CIBC Asset Management Inc Increases Stake in American Water Works (AWK)
CIBC Asset Management Inc raised its stake in American Water Works (NYSE:AWK) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,510 shares of the utilities provider’s stock after buying an additional 294 shares during the period. CIBC Asset Management Inc’s holdings in American Water Works were worth $1,677,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of American Water Works by 38.2% in the first quarter. Canada Pension Plan Investment Board now owns 242,110 shares of the utilities provider’s stock valued at $18,829,000 after buying an additional 66,954 shares during the period. Mason Street Advisors LLC boosted its position in shares of American Water Works by 1.1% in the first quarter. Mason Street Advisors LLC now owns 24,628 shares of the utilities provider’s stock valued at $1,915,000 after buying an additional 278 shares during the period. British Columbia Investment Management Corp boosted its position in shares of American Water Works by 13.6% in the first quarter. British Columbia Investment Management Corp now owns 227,282 shares of the utilities provider’s stock valued at $17,676,000 after buying an additional 27,222 shares during the period. Bank of Nova Scotia boosted its position in shares of American Water Works by 943.7% in the first quarter. Bank of Nova Scotia now owns 40,810 shares of the utilities provider’s stock valued at $3,173,000 after buying an additional 36,900 shares during the period. Finally, National Investment Services Inc. WI acquired a new position in shares of American Water Works during the first quarter valued at about $1,999,000. 81.08% of the stock is owned by hedge funds and other institutional investors.
American Water Works (AWK) opened at 81.68 on Thursday. The firm has a 50-day moving average of $79.98 and a 200-day moving average of $77.57. The stock has a market cap of $14.54 billion, a PE ratio of 30.81 and a beta of 0.25. American Water Works has a 12-month low of $69.41 and a 12-month high of $82.89.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.07. The company had revenue of $844 million during the quarter, compared to analysts’ expectations of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. Equities analysts predict 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 Friday, September 1st. Stockholders of record on Wednesday, August 9th will be issued a $0.415 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 2.03%. American Water Works’s dividend payout ratio is presently 62.64%.
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Several research analysts recently issued reports on AWK shares. Robert W. Baird cut shares of American Water Works from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $69.41 to $82.00 in a report on Wednesday, April 26th. Northcoast Research started coverage on shares of American Water Works in a report on Thursday, May 25th. They set a “neutral” rating for the company. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, July 11th. Finally, Vetr raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $82.36 target price for the company in a report on Monday, May 1st. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $82.63.
In other news, SVP Loyd A. Warnock sold 1,263 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $75.21, for a total value of $94,990.23. Following the completion of the transaction, the senior vice president now owns 7,055 shares in the company, valued at approximately $530,606.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Loyd A. Warnock sold 2,236 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $75.73, for a total transaction of $169,332.28. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
American Water Works Company Profile
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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