American Water Works (AWK) Coverage Initiated by Analysts at Robert W. Baird
A number of other equities analysts have also recently issued reports on the stock. Bank of America Corp. cut shares of American Water Works from a buy rating to a neutral rating and upped their price target for the stock from $71.92 to $88.00 in a research note on Wednesday, July 6th. They noted that the move was a valuation call. Argus initiated coverage on American Water Works in a research report on Friday, June 24th. They issued a buy rating and a $88.00 target price for the company. Vetr raised American Water Works from a buy rating to a strong-buy rating and set a $90.33 target price for the company in a research report on Thursday, August 4th. Barclays PLC decreased their target price on American Water Works from $87.00 to $81.00 and set an overweight rating for the company in a research report on Tuesday, September 6th. Finally, Zacks Investment Research raised American Water Works from a sell rating to a hold rating and set a $93.00 target price for the company in a research report on Friday, July 8th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $82.17.
American Water Works (NYSE:AWK) traded up 0.18% during trading on Friday, hitting $71.86. 169,148 shares of the stock were exchanged. The company has a 50-day moving average price of $73.99 and a 200 day moving average price of $75.79. American Water Works has a 1-year low of $55.13 and a 1-year high of $85.24. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 26.21 and a beta of 0.17.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The company had revenue of $827 million for the quarter, compared to analysts’ expectations of $832.47 million. American Water Works had a net margin of 15.14% and a return on equity of 9.62%. American Water Works’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts predict that American Water Works will post $2.83 earnings per share for the current fiscal year.
In other news, COO Walter Lynch sold 6,514 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 91,389 shares in the company, valued at approximately $6,984,861.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark F. Strauss sold 15,467 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were 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.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in American Water Works by 5.0% in the first quarter. JPMorgan Chase & Co. now owns 1,098,580 shares of the company’s stock worth $75,724,000 after buying an additional 52,242 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in American Water Works during the first quarter worth approximately $1,540,000. Menta Capital LLC purchased a new position in American Water Works during the first quarter worth approximately $283,000. M&T Bank Corp increased its position in American Water Works by 34.7% in the first quarter. M&T Bank Corp now owns 13,837 shares of the company’s stock worth $953,000 after buying an additional 3,568 shares in the last quarter. Finally, ING Groep NV purchased a new position in American Water Works during the first quarter worth approximately $281,000. Hedge funds and other institutional investors own 82.62% 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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