American Water Works (AWK) Holdings Reduced by ELCO Management Co. LLC
ELCO Management Co. LLC trimmed its position in shares of American Water Works (NYSE:AWK) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,383 shares of the utilities provider’s stock after selling 2,511 shares during the quarter. American Water Works makes up about 1.1% of ELCO Management Co. LLC’s investment portfolio, making the stock its 29th biggest position. ELCO Management Co. LLC’s holdings in American Water Works were worth $1,900,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Aviance Capital Management LLC acquired a new stake in shares of American Water Works during the second quarter worth approximately $147,000. AHL Partners LLP raised its stake in shares of American Water Works by 244.2% in the second quarter. AHL Partners LLP now owns 51,412 shares of the utilities provider’s stock valued at $4,007,000 after acquiring an additional 36,474 shares during the last quarter. Boston Common Asset Management LLC raised its stake in shares of American Water Works by 132.5% in the second quarter. Boston Common Asset Management LLC now owns 51,715 shares of the utilities provider’s stock valued at $4,031,000 after acquiring an additional 29,470 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of American Water Works by 4.0% in the second quarter. Zurich Insurance Group Ltd FI now owns 43,239 shares of the utilities provider’s stock valued at $3,370,000 after acquiring an additional 1,673 shares during the last quarter. Finally, First Allied Advisory Services Inc. bought a new position in shares of American Water Works in the second quarter valued at approximately $208,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. BidaskClub lowered American Water Works from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research raised American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, July 11th. Vetr downgraded American Water Works from a “buy” rating to a “hold” rating and set a $84.04 price objective for the company. in a research report on Wednesday, June 14th. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $82.00 price objective on shares of American Water Works in a research note on Sunday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $82.86.
Shares of American Water Works (NYSE:AWK) traded down 0.4800% on Tuesday, reaching $81.3775. The company’s stock had a trading volume of 179,812 shares. The company has a market cap of $14.50 billion, a PE ratio of 31.0601 and a beta of 0.25. American Water Works has a 52-week low of $69.41 and a 52-week high of $83.14. The firm has a 50 day moving average of $81.70 and a 200 day moving average of $79.55.
American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.07). The company had revenue of $844.00 million during the quarter, compared to analyst estimates 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 business earned $0.77 EPS. Analysts predict that American Water Works will post $3.00 earnings per share for the current year.
In other news, COO Walter Lynch sold 15,169 shares of the stock in a transaction on Monday, August 21st. The stock was 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 in the company, valued at approximately $9,116,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.
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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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