Dai Ichi Life Insurance Company Ltd Reduces Position in American Water Works (AWK)
Dai Ichi Life Insurance Company Ltd decreased its holdings in shares of American Water Works (NYSE:AWK) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,498 shares of the utilities provider’s stock after selling 4,487 shares during the quarter. Dai Ichi Life Insurance Company Ltd owned approximately 0.07% of American Water Works worth $9,783,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AWK. BlackRock Inc. raised its stake in American Water Works by 1,423.2% during the first quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock worth $1,129,202,000 after acquiring an additional 13,566,529 shares during the period. Vanguard Group Inc. raised its stake in American Water Works by 3.9% during the first quarter. Vanguard Group Inc. now owns 17,720,019 shares of the utilities provider’s stock worth $1,378,085,000 after acquiring an additional 657,026 shares during the period. Harbour Capital Advisors LLC raised its stake in American Water Works by 7,096.4% during the second quarter. Harbour Capital Advisors LLC now owns 655,949 shares of the utilities provider’s stock worth $8,415,000 after acquiring an additional 646,834 shares during the period. JPMorgan Chase & Co. raised its stake in American Water Works by 93.7% during the first quarter. JPMorgan Chase & Co. now owns 861,315 shares of the utilities provider’s stock worth $66,985,000 after acquiring an additional 416,651 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in American Water Works during the first quarter worth about $28,092,000. Hedge funds and other institutional investors own 79.93% of the company’s stock.
Several equities research analysts recently weighed in on AWK shares. BidaskClub lowered shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Vetr lowered shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price objective on the stock. in a research note on Wednesday, June 14th. Finally, Northcoast Research started coverage on shares of American Water Works in a research note on Thursday, May 25th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $82.86.
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In other American Water Works news, COO Walter Lynch sold 15,169 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $82.00, for a total value of $1,243,858.00. Following the completion of the transaction, the chief operating officer now directly owns 111,171 shares of the company’s stock, valued at $9,116,022. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.
Shares of American Water Works (AWK) traded up 0.56% during midday trading on Friday, hitting $81.96. 463,752 shares of the company’s stock traded hands. The company has a 50 day moving average price of $81.36 and a 200 day moving average price of $78.86. American Water Works has a 1-year low of $69.41 and a 1-year high of $82.89. The firm has a market capitalization of $14.61 billion, a price-to-earnings ratio of 30.94 and a beta of 0.25.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.07. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm had revenue of $844 million for the quarter, compared to the consensus estimate of $869.52 million. During the same period in the prior year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that American Water Works will post $3.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 9th were issued a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, August 7th. American Water Works’s dividend payout ratio is currently 62.64%.
American Water Works Company Profile
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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