Tyers Asset Management LLC Increases Stake in American Water Works Company Inc (NYSE:AWK)
Tyers Asset Management LLC lifted its holdings in shares of American Water Works Company Inc (NYSE:AWK) by 18.2% in the 1st quarter, HoldingsChannel reports. The fund owned 22,036 shares of the utilities provider’s stock after purchasing an additional 3,388 shares during the period. Tyers Asset Management LLC’s holdings in American Water Works were worth $2,297,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Alphasimplex Group LLC bought a new stake in American Water Works in the 1st quarter worth about $393,000. Tortoise Index Solutions LLC grew its position in American Water Works by 3.1% in the 1st quarter. Tortoise Index Solutions LLC now owns 3,193 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 96 shares in the last quarter. Northern Trust Corp grew its position in American Water Works by 3.4% in the 1st quarter. Northern Trust Corp now owns 3,668,158 shares of the utilities provider’s stock worth $382,443,000 after purchasing an additional 122,185 shares in the last quarter. Private Advisor Group LLC grew its position in American Water Works by 30.2% in the 1st quarter. Private Advisor Group LLC now owns 23,876 shares of the utilities provider’s stock worth $2,489,000 after purchasing an additional 5,542 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its position in American Water Works by 5.3% in the 1st quarter. State of Wisconsin Investment Board now owns 197,325 shares of the utilities provider’s stock worth $20,573,000 after purchasing an additional 9,960 shares in the last quarter. 84.42% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on AWK shares. Bank of America upped their price objective on shares of American Water Works from $92.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 21st. Zacks Investment Research downgraded shares of American Water Works from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of American Water Works in a research report on Wednesday, February 20th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $102.00 price objective on shares of American Water Works in a research report on Thursday, February 21st. Finally, Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $109.67.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). The business had revenue of $813.00 million for the quarter, compared to analysts’ expectations of $792.73 million. American Water Works had a net margin of 16.44% and a return on equity of 10.25%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities analysts expect that American Water Works Company Inc will post 3.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Monday, May 13th were paid a dividend of $0.50 per share. This is a boost from American Water Works’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, May 10th. American Water Works’s dividend payout ratio is presently 60.61%.
In related news, SVP Loyd A. Warnock sold 9,502 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $111.04, for a total transaction of $1,055,102.08. Following the sale, the senior vice president now directly owns 18,314 shares in the company, valued at approximately $2,033,586.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Walter Lynch sold 3,372 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $112.90, for a total transaction of $380,698.80. Following the sale, the chief operating officer now owns 106,666 shares in the company, valued at $12,042,591.40. The disclosure for this sale can be found here. Insiders have sold a total of 66,556 shares of company stock worth $7,477,635 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
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American Water Works Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.
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