Friedberg Investment Management Has $587,000 Holdings in American Water Works (AWK)
Friedberg Investment Management trimmed its position in American Water Works (NYSE:AWK) by 82.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,250 shares of the utilities provider’s stock after selling 33,434 shares during the period. Friedberg Investment Management’s holdings in American Water Works were worth $587,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AWK. Cornerstone Advisors Inc. boosted its holdings in American Water Works by 349.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 1,045 shares during the period. Pinebridge Investments L.P. purchased a new stake in shares of American Water Works during the 2nd quarter valued at $118,000. Peddock Capital Advisors LLC purchased a new stake in shares of American Water Works during the 2nd quarter valued at $131,000. Aviance Capital Management LLC purchased a new stake in shares of American Water Works during the 2nd quarter valued at $147,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of American Water Works during the 2nd quarter valued at $154,000. 79.60% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Walter Lynch sold 3,335 shares of the business’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 sale, the chief operating officer now owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael A. Sgro sold 841 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $90.03, for a total transaction of $75,715.23. The disclosure for this sale can be found here. Insiders have sold a total of 10,191 shares of company stock worth $890,337 in the last ninety days. Insiders own 0.34% of the company’s stock.
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Several analysts have recently weighed in on the stock. Robert W. Baird restated a “hold” rating and set a $82.00 price objective on shares of American Water Works in a research report on Sunday, October 1st. BidaskClub cut shares of American Water Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Bank of America Corporation assumed coverage on shares of American Water Works in a research report on Tuesday, October 24th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Zacks Investment Research cut shares of American Water Works from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $85.63.
Shares of American Water Works (NYSE:AWK) traded up $0.20 during trading on Wednesday, reaching $88.58. 730,200 shares of the company’s stock were exchanged, compared to its average volume of 857,632. The company has a market cap of $15,800.00, a price-to-earnings ratio of 30.48, a PEG ratio of 3.88 and a beta of 0.25. American Water Works has a 1-year low of $69.96 and a 1-year high of $91.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.49.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $936.00 million for the quarter, compared to analyst estimates of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. sell-side analysts expect that American Water Works will post 3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 9th. American Water Works’s payout ratio is 56.27%.
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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