HL Financial Services LLC reduced its stake in shares of American Water Works (NYSE:AWK) by 43.4% during the second quarter, Holdings Channel reports. The firm owned 17,096 shares of the company’s stock after selling 13,086 shares during the period. HL Financial Services LLC’s holdings in American Water Works were worth $1,445,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its stake in American Water Works by 63.1% in the first quarter. Lazard Asset Management LLC now owns 2,147 shares of the company’s stock valued at $147,000 after buying an additional 831 shares during the period. Nisa Investment Advisors LLC boosted its stake in American Water Works by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,310 shares of the company’s stock valued at $195,000 after buying an additional 10 shares during the period. Northstar Asset Management LLC bought a new stake in American Water Works during the second quarter valued at about $245,000. Mn Services Vermogensbeheer B.V. bought a new stake in American Water Works during the first quarter valued at about $270,000. Finally, ING Groep NV bought a new stake in American Water Works during the first quarter valued at about $281,000. 82.62% of the stock is owned by institutional investors.
American Water Works (NYSE:AWK) traded down 1.12% on Friday, hitting $76.49. 1,116,819 shares of the company traded hands. The stock’s 50-day moving average is $75.75 and its 200 day moving average is $75.33. The firm has a market capitalization of $13.61 billion, a P/E ratio of 27.90 and a beta of 0.16. American Water Works has a 12 month low of $53.67 and a 12 month high of $85.24.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. The business earned $827 million during the quarter, compared to analysts’ expectations of $832.47 million. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts forecast that American Water Works will post $2.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 8th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, August 4th. American Water Works’s dividend payout ratio is presently 54.74%.
Several research firms have issued reports on AWK. Bank of America Corp. cut shares of American Water Works from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $71.92 to $88.00 in a research report on Wednesday, July 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating and set a $93.00 price target for the company in a report on Friday, July 8th. Barclays PLC reduced their price target on shares of American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, September 6th. Argus assumed coverage on shares of American Water Works in a report on Friday, June 24th. They issued a “buy” rating and a $88.00 price target for the company. Finally, Vetr upgraded shares of American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target for the company in a report on Thursday, August 4th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $78.26.
In other American Water Works news, COO Walter Lynch sold 10,000 shares of American Water Works stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $76.00, for a total transaction of $760,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark F. Strauss sold 15,467 shares of American Water Works stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $76.08, for a total transaction of $1,176,729.36. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
American Water Works Company Profile
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
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