Raymond James Financial Services Advisors Inc. Raises Holdings in American Water Works (AWK)
Raymond James Financial Services Advisors Inc. grew its stake in American Water Works (NYSE:AWK) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,340 shares of the utilities provider’s stock after purchasing an additional 1,765 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.05% of American Water Works worth $7,795,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. raised its holdings in American Water Works by 1.7% in the 3rd quarter. Whittier Trust Co. now owns 213,681 shares of the utilities provider’s stock worth $17,287,000 after purchasing an additional 3,607 shares in the last quarter. Swiss National Bank raised its holdings in American Water Works by 3.1% in the 2nd quarter. Swiss National Bank now owns 701,922 shares of the utilities provider’s stock worth $54,715,000 after purchasing an additional 21,000 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in American Water Works by 9.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,103,953 shares of the utilities provider’s stock worth $85,920,000 after purchasing an additional 95,303 shares in the last quarter. Scout Investments Inc. raised its holdings in American Water Works by 5.7% in the 2nd quarter. Scout Investments Inc. now owns 520,340 shares of the utilities provider’s stock worth $40,561,000 after purchasing an additional 28,279 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in American Water Works by 1.3% in the 2nd quarter. Prudential Financial Inc. now owns 257,075 shares of the utilities provider’s stock worth $20,039,000 after purchasing an additional 3,368 shares in the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.
AWK has been the subject of several research reports. Zacks Investment Research lowered shares of American Water Works from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Robert W. Baird upped their price objective on shares of American Water Works from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Wells Fargo & Company set a $89.00 price objective on shares of American Water Works and gave the stock a “hold” rating in a report on Thursday, October 19th. BidaskClub upgraded shares of American Water Works from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation initiated coverage on shares of American Water Works in a report on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.63.
American Water Works (NYSE:AWK) opened at $89.02 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.49 and a quick ratio of 0.47. The stock has a market cap of $15,878.98, a PE ratio of 30.70, a P/E/G ratio of 3.90 and a beta of 0.25. American Water Works has a 12 month low of $69.96 and a 12 month high of $91.39.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. The company had revenue of $936.00 million during the quarter, compared to analyst estimates of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. American Water Works’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. analysts anticipate that American Water Works will post 3.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.415 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.66 annualized dividend and a dividend yield of 1.86%. American Water Works’s payout ratio is 56.27%.
In related news, insider Deborah A. Degillio sold 822 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $89.75, for a total value of $73,774.50. Following the completion of the transaction, the insider now directly owns 3,659 shares in the company, valued at approximately $328,395.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Walter Lynch sold 3,335 shares of the 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 sale, the chief operating officer now directly owns 94,702 shares in the company, valued at $7,770,299.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,191 shares of company stock valued at $890,337. 0.34% of the stock is owned by company insiders.
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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