Clearbridge Investments LLC Sells 700 Shares of American Water Works Company Inc (NYSE:AWK)
Clearbridge Investments LLC lessened its position in American Water Works Company Inc (NYSE:AWK) by 2.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 30,729 shares of the utilities provider’s stock after selling 700 shares during the period. Clearbridge Investments LLC’s holdings in American Water Works were worth $3,674,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC lifted its stake in shares of American Water Works by 858.3% in the first quarter. Prestige Wealth Management Group LLC now owns 230 shares of the utilities provider’s stock worth $28,000 after buying an additional 206 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of American Water Works in the first quarter worth approximately $40,000. ERTS Wealth Advisors LLC bought a new position in shares of American Water Works in the fourth quarter worth approximately $43,000. Centersquare Investment Management LLC bought a new position in shares of American Water Works in the first quarter worth approximately $48,000. Finally, Tradewinds Capital Management LLC lifted its stake in shares of American Water Works by 143.4% in the first quarter. Tradewinds Capital Management LLC now owns 426 shares of the utilities provider’s stock worth $51,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.
A number of brokerages recently weighed in on AWK. Janney Montgomery Scott restated a “buy” rating on shares of American Water Works in a research report on Monday, May 11th. Zacks Investment Research downgraded shares of American Water Works from a “buy” rating to a “hold” rating and set a $128.00 price objective on the stock. in a research report on Tuesday, May 5th. Royal Bank of Canada began coverage on shares of American Water Works in a research report on Friday, April 24th. They set an “outperform” rating and a $141.00 price objective on the stock. Goldman Sachs Group upgraded shares of American Water Works from a “neutral” rating to a “buy” rating and increased their price objective for the company from $134.00 to $146.00 in a research report on Wednesday, April 15th. Finally, UBS Group increased their price objective on shares of American Water Works from $127.00 to $139.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $135.55.
Shares of AWK stock opened at $125.37 on Tuesday. American Water Works Company Inc has a 12 month low of $92.00 and a 12 month high of $141.70. The stock has a market cap of $22.46 billion, a P/E ratio of 35.92, a P/E/G ratio of 4.01 and a beta of 0.22. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.40. The company has a 50 day simple moving average of $124.89 and a two-hundred day simple moving average of $126.22.
American Water Works (NYSE:AWK) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $837.39 million. American Water Works had a net margin of 17.36% and a return on equity of 10.82%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, equities analysts forecast that American Water Works Company Inc will post 3.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 12th were paid a $0.55 dividend. The ex-dividend date was Monday, May 11th. This is a boost from American Water Works’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.75%. American Water Works’s dividend payout ratio is 60.94%.
About American Water Works
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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