Pictet Asset Management Ltd. reduced its position in shares of American Water Works Company Inc (NYSE:AWK) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,388,526 shares of the utilities provider’s stock after selling 181,312 shares during the period. American Water Works comprises about 1.1% of Pictet Asset Management Ltd.’s investment portfolio, making the stock its 8th largest holding. Pictet Asset Management Ltd. owned 2.43% of American Water Works worth $509,069,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AWK. Barrett Asset Management LLC acquired a new position in American Water Works during the first quarter valued at approximately $25,000. Next Capital Management LLC boosted 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 purchasing an additional 140 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in American Water Works during the first quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in American Water Works during the second quarter valued at approximately $38,000. Finally, Vestor Capital LLC acquired a new position in American Water Works during the second quarter valued at approximately $41,000. 85.03% of the stock is owned by institutional investors.
NYSE:AWK traded up $1.03 on Monday, hitting $123.86. The company’s stock had a trading volume of 25,352 shares, compared to its average volume of 998,518. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average of $122.79 and a two-hundred day moving average of $113.59. The firm has a market capitalization of $22.11 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 4.21 and a beta of 0.11. American Water Works Company Inc has a one year low of $85.88 and a one year high of $129.89.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 9th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.61%. American Water Works’s dividend payout ratio is 60.61%.
Several research analysts recently commented on the company. Wells Fargo & Co increased their price target on American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $118.40.
In other American Water Works news, Director George Mackenzie sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $129.18, for a total value of $1,291,800.00. Following the sale, the director now owns 25,338 shares in the company, valued at $3,273,162.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Loyd A. Warnock sold 4,023 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $116.97, for a total value of $470,570.31. Following the completion of the sale, the senior vice president now owns 11,895 shares in the company, valued at approximately $1,391,358.15. The disclosure for this sale can be found here. Insiders sold 20,931 shares of company stock worth $2,639,065 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.
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 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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