Westpac Banking Corp trimmed its holdings in shares of American Water Works Company Inc (NYSE:AWK) by 2.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 159,189 shares of the utilities provider’s stock after selling 4,631 shares during the period. Westpac Banking Corp’s holdings in American Water Works were worth $16,597,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AWK. Barrett Asset Management LLC bought a new stake in American Water Works in the 1st quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in American Water Works in the 4th quarter valued at about $28,000. Citizens Financial Group Inc RI bought a new stake in American Water Works in the 1st quarter valued at about $30,000. Capital Financial Planning LLC bought a new stake in American Water Works in the 4th quarter valued at about $31,000. Finally, Financial Gravity Companies Inc. bought a new stake in American Water Works in the 4th quarter valued at about $32,000. 84.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Water Works stock traded up $1.50 on Wednesday, reaching $116.88. 29,158 shares of the stock were exchanged, compared to its average volume of 996,375. American Water Works Company Inc has a one year low of $78.04 and a one year high of $119.28. The company has a current ratio of 0.32, a quick ratio of 0.30 and a debt-to-equity ratio of 1.28. The company has a market cap of $20.91 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 4.00 and a beta of 0.19.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The firm had revenue of $813.00 million for the quarter, compared to the consensus estimate of $792.73 million. American Water Works had a return on equity of 10.25% and a net margin of 16.44%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. Research analysts forecast that American Water Works Company Inc will post 3.6 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 13th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.71%. This is a boost from American Water Works’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 10th. American Water Works’s dividend payout ratio is currently 60.61%.
In related news, COO Walter Lynch sold 3,372 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $112.90, for a total transaction of $380,698.80. Following the completion of the transaction, the chief operating officer now directly owns 106,666 shares in the company, valued at approximately $12,042,591.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Loyd A. Warnock sold 9,502 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $111.04, for a total transaction of $1,055,102.08. Following the transaction, the senior vice president now owns 18,314 shares of the company’s stock, valued at $2,033,586.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,556 shares of company stock valued at $7,477,635. 0.36% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on AWK shares. Wells Fargo & Co reaffirmed a “hold” rating on shares of American Water Works in a report on Monday. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a report on Thursday, May 16th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $121.00 price target (up previously from $102.00) on shares of American Water Works in a report on Thursday, May 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a report on Thursday, May 2nd. Finally, Bank of America upped their price target on shares of American Water Works from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, February 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $109.67.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.
Read More: What is a Market Correction?
Want to see what other hedge funds are holding AWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Water Works Company Inc (NYSE:AWK).
Receive News & Ratings for American Water Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Water Works and related companies with MarketBeat.com's FREE daily email newsletter.