New Mexico Educational Retirement Board reduced its position in shares of American Water Works (NYSE:AWK) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 16,600 shares of the utilities provider’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in American Water Works were worth $1,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AWK. Cornerstone Advisors Inc. increased its position in American Water Works by 349.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,045 shares during the last quarter. Parallel Advisors LLC increased its position in American Water Works by 24.7% in the first quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock worth $115,000 after buying an additional 294 shares during the last quarter. Van ECK Associates Corp increased its position in American Water Works by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after buying an additional 236 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in American Water Works during the first quarter worth approximately $121,000. Finally, First National Trust Co. acquired a new position in American Water Works during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 81.08% of the company’s stock.

American Water Works (NYSE AWK) opened at 80.72 on Friday. American Water Works has a 1-year low of $69.41 and a 1-year high of $82.89. The stock has a market cap of $14.39 billion, a P/E ratio of 30.47 and a beta of 0.25. The company’s 50-day moving average price is $79.99 and its 200-day moving average price is $77.66.

American Water Works (NYSE:AWK) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.07. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm had revenue of $844 million for the quarter, compared to analyst estimates of $869.52 million. During the same quarter in the previous year, the company earned $0.77 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that American Water Works will post $3.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Monday, August 7th. American Water Works’s payout ratio is currently 62.64%.

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A number of research analysts recently issued reports on AWK shares. BidaskClub upgraded American Water Works from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Vetr upgraded American Water Works from a “hold” rating to a “buy” rating and set a $82.36 price target on the stock in a research note on Monday, May 1st. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, July 11th. Northcoast Research started coverage on American Water Works in a research note on Thursday, May 25th. They set a “neutral” rating on the stock. Finally, Robert W. Baird downgraded American Water Works from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $69.41 to $82.00 in a research note on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $82.63.

In other American Water Works news, SVP Loyd A. Warnock sold 1,263 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $75.21, for a total transaction of $94,990.23. Following the sale, the senior vice president now owns 7,055 shares in the company, valued at $530,606.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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