Tower Bridge Advisors acquired a new stake in shares of American Water Works (NYSE:AWK) during the second quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,700 shares of the utilities provider’s stock, valued at approximately $210,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its stake in American Water Works by 349.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,045 shares during the period. Parallel Advisors LLC increased its stake in American Water Works by 24.7% in the first quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock worth $115,000 after buying an additional 294 shares during the last quarter. Van ECK Associates Corp increased its stake in American Water Works by 18.0% in the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after buying an additional 236 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in American Water Works during the first quarter worth approximately $121,000. Finally, First National Trust Co. acquired a new stake in American Water Works during the first quarter worth approximately $203,000. Institutional investors own 80.72% of the company’s stock.
American Water Works (NYSE AWK) opened at 81.44 on Friday. The stock has a market capitalization of $14.52 billion, a P/E ratio of 30.74 and a beta of 0.25. The company’s 50-day moving average is $80.19 and its 200-day moving average is $78.00. American Water Works has a 12 month low of $69.41 and a 12 month high of $82.89.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.07. The company had revenue of $844 million during the quarter, compared to analyst estimates of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. Equities analysts anticipate that American Water Works will post $3.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 9th will be paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, August 7th. American Water Works’s dividend payout ratio (DPR) is presently 62.64%.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of American Water Works from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Vetr downgraded shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price on the stock. in a research report on Wednesday, June 14th. Zacks Investment Research downgraded shares of American Water Works from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Robert W. Baird downgraded shares of American Water Works from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $69.41 to $82.00 in a research report on Wednesday, April 26th. Finally, Northcoast Research started coverage on shares of American Water Works in a research report on Thursday, May 25th. They issued a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. American Water Works currently has an average rating of “Hold” and an average price target of $82.63.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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