State Board of Administration of Florida Retirement System increased its holdings in shares of American Water Works Company Inc (NYSE:AWK) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,856 shares of the utilities provider’s stock after purchasing an additional 5,087 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in American Water Works were worth $30,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in AWK. Next Capital Management LLC increased its position in American Water Works by 145.8% during the second quarter. Next Capital Management LLC now owns 236 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 140 shares during the last quarter. Barrett Asset Management LLC purchased a new stake in American Water Works during the first quarter valued at $25,000. Citizens Financial Group Inc RI purchased a new stake in American Water Works during the first quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in American Water Works during the second quarter valued at $38,000. Finally, Sandy Spring Bank purchased a new stake in American Water Works during the first quarter valued at $37,000. 84.51% of the stock is currently owned by hedge funds and other institutional investors.
AWK traded up $0.32 during midday trading on Friday, reaching $125.02. The company had a trading volume of 2,576 shares, compared to its average volume of 966,455. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average of $118.24 and a two-hundred day moving average of $110.01. The company has a market cap of $22.53 billion, a P/E ratio of 37.90, a P/E/G ratio of 4.25 and a beta of 0.17. American Water Works Company Inc has a 1 year low of $85.88 and a 1 year high of $125.31.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, August 8th. American Water Works’s payout ratio is 60.61%.
In related news, insider Susan N. Story sold 28,457 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $113.84, for a total transaction of $3,239,544.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Loyd A. Warnock sold 4,023 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $116.97, for a total value of $470,570.31. Following the sale, the senior vice president now owns 11,895 shares of the company’s stock, valued at approximately $1,391,358.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,852 shares of company stock valued at $4,090,814. Company insiders own 0.36% of the company’s stock.
A number of research firms recently commented on AWK. Janney Montgomery Scott reiterated a “buy” rating and set a $121.00 price objective (up previously from $102.00) on shares of American Water Works in a research report on Thursday, May 2nd. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research 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 price target for the company in a research report on Thursday, May 16th. Wells Fargo & Co upped their price target on American Water Works from $122.00 to $128.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, Bank of America cut American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price target for the company. in a research report on Monday, July 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $114.67.
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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