Mackay Shields LLC Buys New Position in American Water (AWK)

Mackay Shields LLC bought a new stake in American Water (NYSE:AWK) in the 1st quarter, Holdings Channel reports. The firm bought 30,024 shares of the utilities provider’s stock, valued at approximately $2,466,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of American Water by 38.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,700 shares of the utilities provider’s stock valued at $1,436,000 after purchasing an additional 4,400 shares during the period. MetLife Investment Advisors LLC acquired a new position in American Water during the fourth quarter worth $5,049,000. Victory Capital Management Inc. raised its position in American Water by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 40,707 shares of the utilities provider’s stock worth $3,724,000 after acquiring an additional 4,149 shares during the period. Rockefeller Financial Services Inc. raised its position in American Water by 9.6% during the fourth quarter. Rockefeller Financial Services Inc. now owns 715,570 shares of the utilities provider’s stock worth $65,467,000 after acquiring an additional 62,866 shares during the period. Finally, Mutual Advisors LLC acquired a new position in American Water during the fourth quarter worth $259,000. Hedge funds and other institutional investors own 85.13% of the company’s stock.

A number of equities analysts have weighed in on AWK shares. Bank of America set a $84.00 price objective on shares of American Water and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Argus restated a “buy” rating and set a $105.00 price objective on shares of American Water in a research report on Tuesday, May 8th. UBS upped their price objective on shares of American Water from $89.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. Janney Montgomery Scott upgraded shares of American Water from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $87.00 to $92.00 in a research report on Monday, April 16th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of American Water from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. American Water currently has a consensus rating of “Hold” and an average target price of $89.52.

American Water opened at $80.34 on Friday, Marketbeat.com reports. American Water has a 52-week low of $80.45 and a 52-week high of $81.74. The firm has a market cap of $14.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 3.19 and a beta of 0.15. The company has a quick ratio of 0.27, a current ratio of 0.29 and a debt-to-equity ratio of 1.17.

American Water (NYSE:AWK) last released its earnings results on Wednesday, May 2nd. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. American Water had a net margin of 13.06% and a return on equity of 10.20%. The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $726.74 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. equities research analysts anticipate that American Water will post 3.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be issued a dividend of $0.455 per share. This is a positive change from American Water’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, May 10th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.27%. American Water’s dividend payout ratio is presently 60.07%.

American Water Company 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. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.

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Institutional Ownership by Quarter for American Water (NYSE:AWK)

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