American Water Works (AWK) Lowered to “Buy” at Vetr Inc.
Vetr downgraded shares of American Water Works (NYSE:AWK) from a strong-buy rating to a buy rating in a research report released on Wednesday morning. Vetr currently has $79.67 price objective on the stock.
Other analysts have also issued research reports about the company. Robert W. Baird initiated coverage on American Water Works in a report on Friday, October 14th. They set an outperform rating and a $82.00 price objective for the company. Barclays PLC cut their target price on American Water Works from $87.00 to $81.00 and set an overweight rating on the stock in a research report on Tuesday, September 6th. Zacks Investment Research downgraded American Water Works from a buy rating to a hold rating in a research report on Tuesday. Finally, Bank of America Corp. raised American Water Works from a neutral rating to a buy rating and upped their target price for the company from $77.00 to $84.00 in a research report on Wednesday, November 9th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. American Water Works currently has a consensus rating of Buy and an average price target of $80.33.
American Water Works (NYSE:AWK) traded down 0.15% during midday trading on Wednesday, reaching $71.84. The company’s stock had a trading volume of 163,603 shares. The company’s 50-day moving average is $72.16 and its 200 day moving average is $76.10. American Water Works has a 12-month low of $56.40 and a 12-month high of $85.24. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 27.64 and a beta of 0.23.
American Water Works (NYSE:AWK) last posted its earnings results on Wednesday, November 2nd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The company earned $930 million during the quarter, compared to analyst estimates of $944.98 million. American Water Works had a return on equity of 9.85% and a net margin of 14.19%. American Water Works’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities analysts forecast that American Water Works will post $2.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 9th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, November 7th. American Water Works’s dividend payout ratio (DPR) is 57.47%.
In other American Water Works news, COO Walter Lynch sold 6,514 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $76.43, for a total value of $497,865.02. Following the transaction, the chief operating officer now directly owns 91,389 shares of the company’s stock, valued at approximately $6,984,861.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrow Financial Corp acquired a new position in American Water Works during the third quarter worth $113,000. Northwestern Mutual Wealth Management Co. raised its position in American Water Works by 488.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,612 shares of the company’s stock worth $136,000 after buying an additional 1,338 shares during the period. Washington Trust Bank raised its position in American Water Works by 1.0% in the third quarter. Washington Trust Bank now owns 2,093 shares of the company’s stock worth $157,000 after buying an additional 21 shares during the period. Nisa Investment Advisors LLC raised its position in American Water Works by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,310 shares of the company’s stock worth $195,000 after buying an additional 10 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in American Water Works during the second quarter worth $197,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.
American Water Works Company Profile
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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