Pinebridge Investments L.P. Purchases New Position in American Water Works (AWK)

Pinebridge Investments L.P. purchased a new position in American Water Works (NYSE:AWK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,519 shares of the utilities provider’s stock, valued at approximately $118,000.

A number of other hedge funds also recently bought and sold shares of AWK. BlackRock Inc. increased its stake in American Water Works by 1,423.2% in the 1st quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock worth $1,129,202,000 after buying an additional 13,566,529 shares during the period. Vanguard Group Inc. increased its stake in American Water Works by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 17,720,019 shares of the utilities provider’s stock worth $1,378,085,000 after buying an additional 657,026 shares during the period. Harbour Capital Advisors LLC increased its stake in American Water Works by 7,096.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 655,949 shares of the utilities provider’s stock worth $8,415,000 after buying an additional 646,834 shares during the period. NN Investment Partners Holdings N.V. increased its stake in American Water Works by 72.6% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 741,246 shares of the utilities provider’s stock worth $57,780,000 after buying an additional 311,901 shares during the period. Finally, Alliancebernstein L.P. increased its stake in American Water Works by 25.5% in the 2nd quarter. Alliancebernstein L.P. now owns 1,329,726 shares of the utilities provider’s stock worth $103,652,000 after buying an additional 269,907 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Shares of American Water Works (NYSE:AWK) opened at 82.77 on Friday. The company has a market capitalization of $14.75 billion, a PE ratio of 31.59 and a beta of 0.25. American Water Works has a 12-month low of $69.41 and a 12-month high of $83.14. The stock has a 50 day moving average of $81.81 and a 200-day moving average of $79.68.

American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.07). American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that American Water Works will post $3.00 earnings per share for the current fiscal year.

In related news, COO Walter Lynch sold 15,169 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $82.00, for a total value of $1,243,858.00. Following the completion of the transaction, the chief operating officer now directly owns 111,171 shares of the company’s stock, valued at $9,116,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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AWK has been the topic of a number of research reports. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. BidaskClub raised shares of American Water Works from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Robert W. Baird reissued a “hold” rating and set a $82.00 target price on shares of American Water Works in a research report on Sunday, October 1st. Finally, Vetr downgraded shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price on the stock. in a research report on Wednesday, June 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $82.86.

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.

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

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