Commonwealth Bank of Australia decreased its stake in shares of American Water Works Company Inc (NYSE:AWK) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,848 shares of the utilities provider’s stock after selling 744 shares during the period. Commonwealth Bank of Australia’s holdings in American Water Works were worth $860,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of American Water Works by 3.3% in the second quarter. BlackRock Inc. now owns 13,605,841 shares of the utilities provider’s stock worth $1,161,668,000 after acquiring an additional 437,246 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of American Water Works by 3.7% in the third quarter. Wells Fargo & Company MN now owns 3,799,156 shares of the utilities provider’s stock worth $334,212,000 after acquiring an additional 135,184 shares in the last quarter. Northern Trust Corp increased its position in shares of American Water Works by 1.7% in the second quarter. Northern Trust Corp now owns 3,584,418 shares of the utilities provider’s stock worth $306,037,000 after acquiring an additional 60,070 shares in the last quarter. Legal & General Group Plc increased its position in shares of American Water Works by 4.3% in the second quarter. Legal & General Group Plc now owns 1,796,598 shares of the utilities provider’s stock worth $153,393,000 after acquiring an additional 74,613 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of American Water Works by 6.6% in the second quarter. Morgan Stanley now owns 1,537,902 shares of the utilities provider’s stock worth $131,307,000 after acquiring an additional 94,686 shares in the last quarter. 82.85% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on AWK shares. ValuEngine lowered shares of American Water Works from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research raised shares of American Water Works from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, Evercore ISI started coverage on shares of American Water Works in a research report on Monday, September 17th. They issued an “outperform” rating and a $96.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.62.
American Water Works (NYSE:AWK) last announced its earnings results on Wednesday, October 31st. The utilities provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $976.00 million during the quarter, compared to the consensus estimate of $946.35 million. American Water Works had a net margin of 13.31% and a return on equity of 10.57%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, research analysts predict that American Water Works Company Inc will post 3.3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Monday, November 12th will be paid a $0.455 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.82 annualized dividend and a dividend yield of 1.98%. American Water Works’s dividend payout ratio (DPR) is presently 60.07%.
In other news, SVP Loyd A. Warnock sold 10,520 shares of the company’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $87.86, for a total value of $924,287.20. Following the completion of the transaction, the senior vice president now directly owns 12,322 shares in the company, valued at $1,082,610.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karl F. Kurz bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was purchased at an average price of $91.30 per share, with a total value of $91,300.00. The disclosure for this purchase can be found here. Insiders sold 25,520 shares of company stock valued at $2,278,437 over the last 90 days. Insiders own 0.35% of the company’s stock.
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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. 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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