Suntrust Banks Inc. Sells 559 Shares of American Water Works (AWK)
Suntrust Banks Inc. reduced its position in American Water Works (NYSE:AWK) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,807 shares of the utilities provider’s stock after selling 559 shares during the period. Suntrust Banks Inc.’s holdings in American Water Works were worth $685,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of AWK. Cornerstone Advisors Inc. lifted its holdings in shares of American Water Works by 349.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,045 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of American Water Works by 24.7% in the 1st quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 294 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of American Water Works in the 2nd quarter worth $118,000. Van ECK Associates Corp lifted its holdings in shares of American Water Works by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 236 shares in the last quarter. Finally, Peddock Capital Advisors LLC bought a new position in shares of American Water Works in the 2nd quarter worth $131,000. Institutional investors own 79.77% of the company’s stock.
In other American Water Works news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $82.05, for a total value of $273,636.75. Following the sale, the chief operating officer now directly owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.
American Water Works (NYSE AWK) opened at 82.77 on Friday. American Water Works has a 52 week low of $69.41 and a 52 week high of $83.14. The firm’s 50-day moving average price is $81.81 and its 200 day moving average price is $79.68. The company has a market capitalization of $14.75 billion, a PE ratio of 31.59 and a beta of 0.25.
American Water Works (NYSE:AWK) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.07). American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $869.52 million. During the same period last year, the firm posted $0.77 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that American Water Works will post $3.00 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on AWK shares. BidaskClub upgraded American Water Works from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Tuesday, July 11th. Robert W. Baird reiterated a “hold” rating and issued a $82.00 target price on shares of American Water Works in a report on Sunday, October 1st. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a report on Friday, September 22nd. Finally, Vetr cut American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price on the stock. in a report on Wednesday, June 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $82.86.
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American Water Works 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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