State of Wisconsin Investment Board Acquires 44,620 Shares of American Water Works (AWK)
State of Wisconsin Investment Board raised its stake in shares of American Water Works (NYSE:AWK) by 93.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,431 shares of the utilities provider’s stock after buying an additional 44,620 shares during the period. State of Wisconsin Investment Board owned approximately 0.05% of American Water Works worth $7,205,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of AWK. Cornerstone Advisors Inc. raised its stake in American Water Works by 349.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock valued at $105,000 after buying an additional 1,045 shares during the last quarter. Parallel Advisors LLC raised its stake in American Water Works by 24.7% in the first quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock valued at $115,000 after buying an additional 294 shares during the last quarter. Van ECK Associates Corp raised its stake in American Water Works by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock valued at $120,000 after buying an additional 236 shares during the last quarter. First National Trust Co. acquired a new stake in American Water Works during the first quarter valued at approximately $203,000. Finally, Atlantic Trust LLC acquired a new stake in American Water Works during the first quarter valued at approximately $206,000. 79.96% of the stock is currently owned by institutional investors.
American Water Works (NYSE:AWK) opened at 82.00 on Tuesday. American Water Works has a 12 month low of $69.41 and a 12 month high of $82.89. The firm has a 50 day moving average of $80.69 and a 200-day moving average of $78.34. The firm has a market cap of $14.62 billion, a P/E ratio of 30.96 and a beta of 0.25.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.07. The company had revenue of $844 million during the quarter, compared to the consensus estimate of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, equities research analysts forecast that American Water Works will post $3.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 9th will be given a $0.415 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.66 dividend on an annualized basis and a yield of 2.02%. American Water Works’s dividend payout ratio is presently 62.64%.
Several research firms have commented on AWK. BidaskClub lowered shares of American Water Works from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of American Water Works from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Northcoast Research began coverage on shares of American Water Works in a report on Thursday, May 25th. They issued a “neutral” rating on the stock. Finally, Vetr lowered shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price target on the stock. in a report on Wednesday, June 14th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. American Water Works currently has an average rating of “Hold” and an average price target of $82.63.
In other news, COO Walter Lynch sold 15,169 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $82.00, for a total transaction of $1,243,858.00. Following the completion of the transaction, the chief operating officer now owns 111,171 shares in the company, valued at approximately $9,116,022. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.
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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