State Treasurer State of Michigan reduced its holdings in American Water Works Company Inc (NYSE:AWK) by 17.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,228 shares of the utilities provider’s stock after selling 8,900 shares during the quarter. State Treasurer State of Michigan’s holdings in American Water Works were worth $5,014,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Weaver Consulting Group acquired a new stake in shares of American Water Works during the 1st quarter worth $76,000. DNB Asset Management AS increased its holdings in shares of American Water Works by 56.0% during the second quarter. DNB Asset Management AS now owns 41,679 shares of the utilities provider’s stock valued at $4,835,000 after acquiring an additional 14,963 shares in the last quarter. Patten & Patten Inc. TN increased its holdings in shares of American Water Works by 11.0% during the second quarter. Patten & Patten Inc. TN now owns 20,980 shares of the utilities provider’s stock valued at $2,434,000 after acquiring an additional 2,075 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of American Water Works during the first quarter valued at approximately $483,000. Finally, W.E. Donoghue & Co. LLC bought a new stake in shares of American Water Works during the first quarter valued at approximately $2,701,000. Institutional investors own 84.32% of the company’s stock.
Shares of NYSE:AWK traded up $1.10 during trading on Friday, hitting $120.51. The stock had a trading volume of 20,872 shares, compared to its average volume of 953,081. American Water Works Company Inc has a 12 month low of $85.88 and a 12 month high of $119.95. The company has a market cap of $21.21 billion, a P/E ratio of 36.52, a PEG ratio of 4.04 and a beta of 0.17. The company has a fifty day moving average of $116.57. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.56 and a quick ratio of 0.53.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.66%. American Water Works’s dividend payout ratio (DPR) is currently 60.61%.
In other news, SVP Loyd A. Warnock sold 4,023 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $116.97, for a total value of $470,570.31. Following the transaction, the senior vice president now directly owns 11,895 shares in the company, valued at approximately $1,391,358.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Walter Lynch sold 18,545 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $111.15, for a total value of $2,061,276.75. Following the completion of the transaction, the chief operating officer now owns 118,583 shares in the company, valued at $13,180,500.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,579 shares of company stock worth $7,948,205. Company insiders own 0.36% of the company’s stock.
Several research firms have weighed in on AWK. Bank of America cut American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price objective on the stock. in a research report on Monday, July 15th. They noted that the move was a valuation call. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Janney Montgomery Scott restated a “buy” rating and set a $121.00 target price (up from $102.00) on shares of American Water Works in a report on Thursday, May 2nd. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Thursday, May 16th. Finally, Wells Fargo & Co restated a “hold” rating on shares of American Water Works in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. American Water Works has a consensus rating of “Buy” and a consensus price target of $111.83.
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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