Arizona State Retirement System reduced its position in shares of American Water Works (NYSE:AWK) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,400 shares of the utilities provider’s stock after selling 2,100 shares during the period. Arizona State Retirement System’s holdings in American Water Works were worth $4,708,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its stake in shares of 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 last quarter. Parallel Advisors LLC raised its stake in shares of 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 raised its stake in shares of 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 purchased a new stake in shares of American Water Works during the first quarter worth about $121,000. Finally, First National Trust Co. purchased a new stake in shares of American Water Works during the first quarter worth about $203,000. 80.72% of the stock is currently owned by institutional investors.

American Water Works (NYSE:AWK) opened at 81.33 on Tuesday. American Water Works has a 12-month low of $69.41 and a 12-month high of $82.89. The company has a 50-day moving average price of $79.99 and a 200 day moving average price of $77.82. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 30.70 and a beta of 0.25.

American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.07. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The firm had revenue of $844 million for the quarter, compared to analysts’ expectations of $869.52 million. During the same period last year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that American Water Works will post $3.01 EPS for the current year.

The company 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 dividend of $0.415 per share. This represents a $1.66 annualized dividend and a yield of 2.04%. The ex-dividend date is Monday, August 7th. American Water Works’s dividend payout ratio (DPR) is 62.64%.

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A number of research firms have recently weighed in on AWK. Vetr raised American Water Works from a “hold” rating to a “buy” rating and set a $82.36 price objective on the stock in a research report on Monday, May 1st. BidaskClub raised American Water Works from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Tuesday, July 11th. Northcoast Research began coverage on American Water Works in a research report on Thursday, May 25th. They set a “neutral” rating on the stock. Finally, Robert W. Baird lowered American Water Works from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $69.41 to $82.00 in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $82.63.

In related news, SVP Loyd A. Warnock sold 2,236 shares of American Water Works stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $75.73, for a total transaction of $169,332.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Loyd A. Warnock sold 1,263 shares of American Water Works stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $75.21, for a total transaction of $94,990.23. Following the sale, the senior vice president now directly owns 7,055 shares in the company, valued at approximately $530,606.55. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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

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