ProShare Advisors LLC Grows Holdings in American Water Works (AWK)
ProShare Advisors LLC boosted its holdings in shares of American Water Works (NYSE:AWK) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,036 shares of the utilities provider’s stock after buying an additional 599 shares during the period. ProShare Advisors LLC’s holdings in American Water Works were worth $3,355,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its holdings in American Water Works by 349.5% during 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 raised its holdings in American Water Works by 24.7% during 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 raised its holdings in American Water Works by 18.0% during 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. Peddock Capital Advisors LLC purchased a new stake in shares of American Water Works in the second quarter valued at about $131,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of American Water Works in the second quarter valued at about $154,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.
Several brokerages have recently commented on AWK. Vetr downgraded shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a report on Wednesday, June 14th. BidaskClub downgraded shares of American Water Works from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a report on Friday. Finally, Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating in a report on Wednesday, May 31st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $82.86.
In other news, COO Walter Lynch sold 3,335 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $82.05, for a total transaction of $273,636.75. Following the completion of the sale, the chief operating officer now owns 94,702 shares of the company’s stock, valued at approximately $7,770,299.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.
Shares of American Water Works (AWK) opened at 82.03 on Friday. The stock has a market cap of $14.62 billion, a P/E ratio of 30.97 and a beta of 0.25. American Water Works has a one year low of $69.41 and a one year high of $83.06. The stock has a 50 day moving average of $81.58 and a 200 day moving average of $79.19.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 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 business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. During the same period in the previous year, the company earned $0.77 EPS. American Water Works’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that American Water Works will post $3.00 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 9th were given a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, August 7th. American Water Works’s payout ratio is currently 62.64%.
About American Water Works
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.
Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.