American Water Works (AWK) Stake Lowered by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its holdings in American Water Works (NYSE:AWK) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 612,071 shares of the utilities provider’s stock after selling 2,698 shares during the period. American Water Works accounts for 0.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 25th biggest position. Magellan Asset Management Ltd owned about 0.34% of American Water Works worth $47,711,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Focused Wealth Management Inc grew its position in shares of American Water Works by 0.3% in the first quarter. Focused Wealth Management Inc now owns 4,367 shares of the utilities provider’s stock valued at $340,000 after purchasing an additional 13 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of American Water Works by 0.3% in the first quarter. Flagship Harbor Advisors LLC now owns 3,757 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 13 shares during the period. Day & Ennis LLC grew its position in shares of American Water Works by 0.4% in the first quarter. Day & Ennis LLC now owns 3,329 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 14 shares during the period. Clifford Swan Investment Counsel LLC grew its position in shares of American Water Works by 0.5% in the first quarter. Clifford Swan Investment Counsel LLC now owns 9,183 shares of the utilities provider’s stock valued at $714,000 after purchasing an additional 43 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of American Water Works by 0.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,253 shares of the utilities provider’s stock valued at $720,000 after purchasing an additional 50 shares during the period. 79.93% of the stock is owned by institutional investors and hedge funds.

In related news, COO Walter Lynch sold 3,335 shares of the stock in a transaction on Monday, August 28th. The stock was 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 directly owns 94,702 shares in the company, valued at $7,770,299.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on the company. BidaskClub downgraded American Water Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised American Water Works from a “sell” rating to a “hold” rating in a research report on Thursday. Vetr downgraded American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price objective for the company. in a research report on Wednesday, June 14th. Finally, Northcoast Research assumed coverage on American Water Works in a research report on Thursday, May 25th. They issued a “neutral” rating for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. American Water Works has an average rating of “Hold” and a consensus price target of $82.86.

American Water Works (NYSE:AWK) traded up 0.50% during midday trading on Friday, reaching $82.68. The company’s stock had a trading volume of 1,285,704 shares. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 31.21 and a beta of 0.25. American Water Works has a 12 month low of $69.41 and a 12 month high of $83.06. The stock’s 50-day moving average price is $81.51 and its 200-day moving average price is $79.10.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.07). The business had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. American Water Works’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. Analysts predict that American Water Works will post $3.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 9th were issued a dividend of $0.415 per share. The ex-dividend date was Monday, August 7th. This represents a $1.66 annualized dividend and a dividend yield of 2.01%. American Water Works’s dividend payout ratio is 62.64%.

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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.

Institutional Ownership by Quarter for American Water Works (NYSE:AWK)

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