American Water Works (AWK) Stake Lifted by Cetera Investment Advisers
Cetera Investment Advisers grew its holdings in American Water Works (NYSE:AWK) by 12.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,730 shares of the utilities provider’s stock after acquiring an additional 622 shares during the quarter. Cetera Investment Advisers’ holdings in American Water Works were worth $463,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in American Water Works by 3.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 570,921 shares of the utilities provider’s stock worth $44,504,000 after buying an additional 18,496 shares during the last quarter. National Planning Corp purchased a new position in American Water Works during the 2nd quarter worth approximately $211,000. Advisors Asset Management Inc. grew its stake in American Water Works by 2.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 13,740 shares of the utilities provider’s stock worth $1,071,000 after buying an additional 374 shares during the last quarter. Conning Inc. grew its stake in American Water Works by 5.4% during the 2nd quarter. Conning Inc. now owns 3,720 shares of the utilities provider’s stock worth $290,000 after buying an additional 190 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in American Water Works during the 2nd quarter worth approximately $964,000. Institutional investors and hedge funds own 81.11% of the company’s stock.
American Water Works (NYSE AWK) opened at $90.35 on Friday. American Water Works has a 12 month low of $69.96 and a 12 month high of $92.37. The firm has a market capitalization of $16,041.30, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 4.14 and a beta of 0.27. The company has a quick ratio of 0.47, a current ratio of 0.49 and a debt-to-equity ratio of 1.21.
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 the consensus estimate of $1.08. The company had revenue of $936.00 million for the quarter, compared to the consensus estimate of $992.58 million. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. equities research analysts predict that American Water Works will post 3.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be issued a $0.415 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.66 annualized dividend and a dividend yield of 1.84%. American Water Works’s dividend payout ratio is currently 56.27%.
Several research analysts have weighed in on the company. Janney Montgomery Scott downgraded American Water Works from a “buy” rating to a “neutral” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Robert W. Baird lifted their target price on American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research note on Thursday, November 2nd. Bank of America assumed coverage on American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Zacks Investment Research downgraded American Water Works from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. American Water Works has a consensus rating of “Hold” and a consensus target price of $85.63.
In other news, insider Deborah A. Degillio sold 822 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $89.75, for a total value of $73,774.50. Following the completion of the sale, the insider now directly owns 3,659 shares of the company’s stock, valued at approximately $328,395.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Walter Lynch sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $89.95, for a total value of $449,750.00. Following the completion of the sale, the chief operating officer now directly owns 97,667 shares of the company’s stock, valued at $8,785,146.65. The disclosure for this sale can be found here. Insiders sold a total of 6,856 shares of company stock valued at $616,700 over the last three months. Insiders own 0.34% of the company’s stock.
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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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