Creative Planning Reduces Stake in American Water Works Company Inc (NYSE:AWK)

Creative Planning lowered its stake in American Water Works Company Inc (NYSE:AWK) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,703 shares of the utilities provider’s stock after selling 2,054 shares during the period. Creative Planning’s holdings in American Water Works were worth $2,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AWK. Beese Fulmer Investment Management Inc. boosted its holdings in shares of American Water Works by 56.0% in the third quarter. Beese Fulmer Investment Management Inc. now owns 2,785 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 1,000 shares during the period. Gabelli Funds LLC boosted its holdings in shares of American Water Works by 4.1% in the third quarter. Gabelli Funds LLC now owns 301,800 shares of the utilities provider’s stock valued at $37,493,000 after purchasing an additional 12,000 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of American Water Works by 0.6% in the third quarter. Gamco Investors INC. ET AL now owns 28,494 shares of the utilities provider’s stock valued at $3,540,000 after purchasing an additional 157 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of American Water Works by 39.9% in the third quarter. IFM Investors Pty Ltd now owns 18,966 shares of the utilities provider’s stock valued at $2,356,000 after purchasing an additional 5,411 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of American Water Works in the third quarter valued at approximately $240,000. Institutional investors own 85.09% of the company’s stock.

AWK has been the subject of a number of research reports. ValuEngine lowered American Water Works from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Janney Montgomery Scott boosted their price target on American Water Works from $121.00 to $153.00 and gave the company a “buy” rating in a report on Monday, October 7th. Bank of America lowered American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 price target for the company. in a report on Monday, July 15th. They noted that the move was a valuation call. Robert W. Baird boosted their price target on American Water Works from $117.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co boosted their price target on American Water Works from $122.00 to $128.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. American Water Works currently has an average rating of “Hold” and a consensus price target of $129.60.

Shares of NYSE:AWK opened at $116.30 on Friday. The company has a market capitalization of $21.71 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 4.13 and a beta of 0.06. American Water Works Company Inc has a 52 week low of $85.89 and a 52 week high of $129.89. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $122.67 and a 200 day moving average of $118.09.

American Water Works (NYSE:AWK) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. American Water Works had a net margin of 17.85% and a return on equity of 10.77%. American Water Works’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. On average, sell-side analysts expect that American Water Works Company Inc will post 3.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, November 8th. American Water Works’s dividend payout ratio (DPR) is 60.61%.

In related news, Director George Mackenzie sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $129.18, for a total value of $1,291,800.00. Following the completion of the transaction, the director now owns 25,338 shares of the company’s stock, valued at $3,273,162.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Walter Lynch sold 6,908 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $126.91, for a total transaction of $876,694.28. Following the completion of the transaction, the chief operating officer now directly owns 113,574 shares of the company’s stock, valued at approximately $14,413,676.34. The disclosure for this sale can be found here. 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.

Further Reading: Dividend Aristocrat Index

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

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