HCR Wealth Advisors Reduces Holdings in American Water Works Company, Inc. (NYSE:AWK)

HCR Wealth Advisors trimmed its stake in shares of American Water Works Company, Inc. (NYSE:AWK) by 6.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 25,328 shares of the utilities provider’s stock after selling 1,604 shares during the quarter. HCR Wealth Advisors’ holdings in American Water Works were worth $3,736,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AWK. Providence First Trust Co purchased a new position in shares of American Water Works in the fourth quarter worth $27,000. Whipplewood Advisors LLC bought a new stake in American Water Works in the 4th quarter worth $28,000. Capital A Wealth Management LLC bought a new stake in American Water Works in the 4th quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in shares of American Water Works by 54.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 293 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 103 shares during the period. Finally, Banque Transatlantique SA bought a new position in shares of American Water Works during the fourth quarter valued at about $46,000. 86.58% of the stock is owned by hedge funds and other institutional investors.

American Water Works Trading Up 0.0%

NYSE AWK opened at $140.93 on Thursday. The firm has a market capitalization of $27.48 billion, a PE ratio of 25.67, a P/E/G ratio of 3.34 and a beta of 0.71. The stock’s 50 day moving average is $143.54 and its 200 day moving average is $135.89. American Water Works Company, Inc. has a twelve month low of $118.74 and a twelve month high of $155.50. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 1.26.

American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.01). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. American Water Works had a net margin of 22.24% and a return on equity of 10.35%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Research analysts forecast that American Water Works Company, Inc. will post 5.71 earnings per share for the current fiscal year.

American Water Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.31 annualized dividend and a yield of 2.35%. This is a positive change from American Water Works’s previous quarterly dividend of $0.77. American Water Works’s payout ratio is presently 60.29%.

Wall Street Analysts Forecast Growth

AWK has been the topic of a number of research analyst reports. Barclays initiated coverage on American Water Works in a report on Tuesday, April 22nd. They set an “underweight” rating and a $138.00 price target on the stock. Wells Fargo & Company lifted their price objective on American Water Works from $142.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. UBS Group downgraded American Water Works from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Wall Street Zen lowered American Water Works from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th. Finally, Evercore ISI boosted their price objective on shares of American Water Works from $139.00 to $148.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $143.22.

Insiders Place Their Bets

In other news, CAO Melissa K. Wikle sold 2,825 shares of American Water Works stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $143.28, for a total transaction of $404,766.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,572 shares in the company, valued at approximately $1,084,916.16. This trade represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including 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, such as schools and universities; and other utilities and community water and wastewater systems.