American Water Works (AWK) Shares Bought by Mizuho Asset Management Co. Ltd.
Mizuho Asset Management Co. Ltd. boosted its stake in shares of American Water Works (NYSE:AWK) by 140.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,480 shares of the company’s stock after buying an additional 1,447 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in American Water Works were worth $210,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in American Water Works by 139.3% in the first quarter. State Street Corp now owns 9,472,712 shares of the company’s stock valued at $652,950,000 after buying an additional 5,514,095 shares in the last quarter. Norges Bank bought a new position in American Water Works during the fourth quarter valued at about $117,369,000. BlackRock Fund Advisors raised its position in American Water Works by 55.3% in the first quarter. BlackRock Fund Advisors now owns 3,539,542 shares of the company’s stock valued at $243,981,000 after buying an additional 1,260,404 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in American Water Works during the second quarter valued at about $43,971,000. Finally, Ameriprise Financial Inc. raised its position in American Water Works by 264.4% in the second quarter. Ameriprise Financial Inc. now owns 607,914 shares of the company’s stock valued at $52,083,000 after buying an additional 441,108 shares in the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.
American Water Works (NYSE:AWK) traded up 0.01% during midday trading on Wednesday, hitting $75.16. The company’s stock had a trading volume of 108,653 shares. American Water Works has a one year low of $53.44 and a one year high of $85.24. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 27.41 and a beta of 0.16. The company’s 50-day moving average is $76.12 and its 200 day moving average is $75.24.
American Water Works (NYSE:AWK) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm earned $827 million during the quarter, compared to analysts’ expectations of $832.47 million. American Water Works had a return on equity of 9.62% and a net margin of 15.14%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. On average, analysts predict that American Water Works will post $2.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, August 4th. American Water Works’s dividend payout ratio (DPR) is currently 54.74%.
AWK has been the subject of several recent analyst reports. Boenning Scattergood lowered American Water Works from an “outperform” rating to a “neutral” rating in a research report on Monday, June 6th. Vetr raised American Water Works from a “buy” rating to a “strong-buy” rating and set a $90.33 price target for the company in a research report on Thursday, August 4th. Argus initiated coverage on American Water Works in a research report on Friday, June 24th. They issued a “buy” rating and a $88.00 price target for the company. Barclays PLC lowered their price target on American Water Works from $87.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, September 6th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of American Water Works in a research report on Tuesday, May 24th. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.26.
In related news, COO Walter Lynch sold 6,514 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $76.43, for a total transaction of $497,865.02. Following the completion of the sale, the chief operating officer now directly owns 91,389 shares in the company, valued at approximately $6,984,861.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark F. Strauss sold 15,467 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $76.08, for a total value of $1,176,729.36. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
About American Water Works
American Water Works Company, Inc is a holding company. The Company is a water and wastewater utility company. The Company operates through two segments: the Regulated Businesses and the Market-Based Businesses. Its Regulated Businesses segment involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers.
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