Korea Investment CORP lessened its stake in shares of American Water Works Company, Inc. (NYSE:AWK – Get Rating) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 260,300 shares of the utilities provider’s stock after selling 91,927 shares during the quarter. Korea Investment CORP’s holdings in American Water Works were worth $38,725,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Heritage Financial Services LLC acquired a new position in shares of American Water Works during the second quarter valued at approximately $25,000. Core Alternative Capital grew its position in American Water Works by 259.0% in the second quarter. Core Alternative Capital now owns 219 shares of the utilities provider’s stock worth $33,000 after buying an additional 158 shares during the last quarter. CX Institutional acquired a new position in American Water Works in the second quarter worth approximately $41,000. HBC Financial Services PLLC acquired a new position in American Water Works in the second quarter worth approximately $46,000. Finally, Clear Street Markets LLC grew its position in American Water Works by 387.2% in the second quarter. Clear Street Markets LLC now owns 380 shares of the utilities provider’s stock worth $57,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 83.50% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on AWK. Guggenheim decreased their price target on shares of American Water Works from $155.00 to $138.00 in a research report on Monday, October 24th. HSBC decreased their price target on shares of American Water Works to $158.00 in a research report on Tuesday, November 15th. StockNews.com began coverage on shares of American Water Works in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of American Water Works from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $162.00 to $165.00 in a research report on Friday, September 9th. Finally, Wells Fargo & Company lifted their price target on shares of American Water Works from $140.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 2nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $153.00.
American Water Works Trading Up 2.1 %
American Water Works (NYSE:AWK – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The utilities provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.12. American Water Works had a net margin of 34.58% and a return on equity of 10.99%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $1.53 EPS. The company’s revenue was down .9% on a year-over-year basis. Research analysts forecast that American Water Works Company, Inc. will post 4.46 EPS for the current year.
American Water Works Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 8th will be paid a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, November 7th. American Water Works’s dividend payout ratio (DPR) is currently 36.14%.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, including 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, such as schools and universities; and other utilities and community water and wastewater systems.
- Get a free copy of the StockNews.com research report on American Water Works (AWK)
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