Principal Financial Group Inc. cut its position in shares of American Water Works (NYSE:AWK) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,608 shares of the company’s stock after selling 865 shares during the period. Principal Financial Group Inc. owned about 0.15% of American Water Works worth $21,855,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of American Water Works by 63.1% in the first quarter. Lazard Asset Management LLC now owns 2,147 shares of the company’s stock worth $147,000 after buying an additional 831 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of American Water Works by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,310 shares of the company’s stock worth $195,000 after buying an additional 10 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in shares of American Water Works during the second quarter worth $224,000. Northstar Asset Management LLC acquired a new position in shares of American Water Works during the second quarter worth $245,000. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of American Water Works during the first quarter worth $270,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.
Shares of American Water Works (NYSE:AWK) traded down 0.4903% during mid-day trading on Friday, hitting $74.6124. 241,290 shares of the stock traded hands. American Water Works has a one year low of $54.68 and a one year high of $85.24. The stock has a 50-day moving average of $75.53 and a 200 day moving average of $75.55. The stock has a market cap of $13.27 billion, a PE ratio of 27.2109 and a beta of 0.16.
American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 3rd. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company earned $827 million during the quarter, compared to analysts’ expectations of $832.47 million. American Water Works had a return on equity of 9.62% and a net margin of 15.14%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. Equities analysts predict that American Water Works will post $2.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, August 4th. American Water Works’s dividend payout ratio (DPR) is currently 54.74%.
A number of research analysts recently weighed in on the stock. Bank of America Corp. cut shares of American Water Works from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $71.92 to $88.00 in a 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 research note on Friday, July 8th. Barclays PLC decreased 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 research note on Tuesday, September 6th. Argus began coverage on shares of American Water Works in a research note 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 research note on Thursday, August 4th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $78.26.
In related news, COO Walter Lynch sold 6,514 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $76.43, for a total transaction of $497,865.02. Following the transaction, the chief operating officer now directly owns 91,389 shares in the company, valued at $6,984,861.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark F. Strauss sold 15,467 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $76.08, for a total value of $1,176,729.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
About American Water Works
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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