Tortoise Capital Advisors L.L.C. increased its stake in American Water Works Company, Inc. (NYSE:AWK) by 161.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 30,493 shares of the utilities provider’s stock after buying an additional 18,843 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in American Water Works were worth $4,572,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Safeguard Investment Advisory Group LLC acquired a new stake in shares of American Water Works in the fourth quarter worth approximately $34,000. CSat Investment Advisory L.P. boosted its position in shares of American Water Works by 59.2% in the first quarter. CSat Investment Advisory L.P. now owns 234 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 87 shares during the last quarter. Tradition Wealth Management LLC purchased a new position in American Water Works in the first quarter valued at approximately $35,000. Mascoma Wealth Management LLC purchased a new position in American Water Works in the first quarter valued at approximately $45,000. Finally, Berman Capital Advisors LLC raised its holdings in American Water Works by 90.2% in the first quarter. Berman Capital Advisors LLC now owns 312 shares of the utilities provider’s stock valued at $45,000 after buying an additional 148 shares during the period. 81.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of AWK traded up $0.34 during mid-day trading on Thursday, reaching $163.83. 10,535 shares of the stock traded hands, compared to its average volume of 631,999. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 4.86 and a beta of 0.22. The firm has a fifty day moving average of $158.06. American Water Works Company, Inc. has a 12-month low of $131.01 and a 12-month high of $172.56. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Tuesday, May 11th were paid a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Monday, May 10th. This is a positive change from American Water Works’s previous quarterly dividend of $0.55. American Water Works’s payout ratio is 61.79%.
Several research firms recently commented on AWK. Argus restated a “hold” rating on shares of American Water Works in a report on Tuesday, May 18th. Barclays raised their price target on shares of American Water Works from $170.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. American Water Works presently has an average rating of “Buy” and a consensus price target of $170.00.
In related news, SVP Melanie M. Kennedy sold 661 shares of American Water Works stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $154.55, for a total value of $102,157.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.
About American Water Works
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 16 states serving approximately 3.5 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, such as schools and universities; and other utilities and community water and wastewater systems.
Further Reading: Special Purpose Acquisition Company (SPAC) – What You Need to Know
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