American Water Works (AWK) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of American Water Works (NYSE:AWK) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Year to date American Water Works have gained higher than the industry. American Water Works continues to add customers and expand its market reach through acquisitions and organic growth. Year to date, the water utility has added 22,000 customers through closed acquisitions and organic growth. Thanks to its ongoing capital expenditure we expect the company to improve its water and wastewater systems, providing efficient services to its expanding customer base. Unimpressive performance in the market-based businesses has proved detrimental to the company’s earnings. It is subject to stringent regulations, fluctuating weather patterns and risk of accidents due to old and soiled pipelines. High debt level is a headwind.”
A number of other analysts have also recently commented on AWK. BidaskClub cut shares of American Water Works from a buy rating to a hold rating in a research note on Thursday, August 3rd. Robert W. Baird reissued a hold rating and set a $82.00 target price on shares of American Water Works in a research note on Sunday, October 1st. Boenning Scattergood reissued a hold rating on shares of American Water Works in a research note on Friday, September 22nd. Finally, Vetr cut shares of American Water Works from a buy rating to a hold rating and set a $84.04 target price for the company. in a research note on Wednesday, June 14th. Eight research analysts have rated the stock with a hold rating and three have given 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.
American Water Works (NYSE AWK) opened at 85.10 on Tuesday. The stock’s 50 day moving average price is $82.08 and its 200-day moving average price is $79.89. The stock has a market cap of $15.17 billion, a price-to-earnings ratio of 32.13 and a beta of 0.25. American Water Works has a 12 month low of $69.41 and a 12 month high of $85.17.
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 analysts’ consensus estimates of $0.80 by ($0.07). The company had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Equities analysts expect that American Water Works will post $3.00 EPS for the current year.
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In related news, COO Walter Lynch sold 3,335 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $82.05, for a total transaction of $273,636.75. Following the completion of the sale, the chief operating officer now owns 94,702 shares of the company’s stock, valued at approximately $7,770,299.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in American Water Works by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 18,185,767 shares of the utilities provider’s stock valued at $1,417,580,000 after purchasing an additional 465,748 shares during the last quarter. BlackRock Inc. boosted its holdings in American Water Works by 1,423.2% in the 1st quarter. BlackRock Inc. now owns 14,519,771 shares of the utilities provider’s stock valued at $1,129,202,000 after purchasing an additional 13,566,529 shares during the last quarter. Pictet Asset Management Ltd. boosted its holdings in American Water Works by 3.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,004,935 shares of the utilities provider’s stock valued at $313,105,000 after purchasing an additional 125,587 shares during the last quarter. Franklin Resources Inc. boosted its holdings in American Water Works by 0.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,680,122 shares of the utilities provider’s stock valued at $208,915,000 after purchasing an additional 12,280 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in American Water Works by 11.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,532,449 shares of the utilities provider’s stock valued at $197,405,000 after purchasing an additional 251,271 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.
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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