Boenning Scattergood Reaffirms “Hold” Rating for American Water Works (AWK)
A number of other research firms have also recently weighed in on AWK. Bank of America Corporation assumed coverage on American Water Works in a report on Tuesday, October 24th. They issued a buy rating and a $95.00 price target for the company. Zacks Investment Research cut American Water Works from a hold rating to a sell rating in a report on Friday, October 20th. Wells Fargo & Company set a $89.00 price target on American Water Works and gave the stock a hold rating in a report on Thursday, October 19th. BidaskClub cut American Water Works from a buy rating to a hold rating in a report on Thursday, August 3rd. Finally, Robert W. Baird reiterated a hold rating and issued a $82.00 target price on shares of American Water Works in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $85.63.
American Water Works (NYSE AWK) traded down $0.69 during midday trading on Thursday, hitting $88.76. The stock had a trading volume of 951,784 shares, compared to its average volume of 905,183. The company has a market capitalization of $15,832.57, a price-to-earnings ratio of 30.61, a PEG ratio of 3.89 and a beta of 0.25. The company has a quick ratio of 0.29, a current ratio of 0.49 and a debt-to-equity ratio of 1.21.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.08. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. The company had revenue of $936.00 million during the quarter, compared to analysts’ expectations of $992.58 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. research analysts forecast that American Water Works will post 3.01 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.415 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.66 annualized dividend and a yield of 1.87%. American Water Works’s payout ratio is currently 56.27%.
In related news, COO Walter Lynch sold 3,335 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $82.05, for a total value of $273,636.75. Following the completion of the transaction, the chief operating officer now directly owns 94,702 shares in the company, valued at $7,770,299.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.
A number of large investors have recently made changes to their positions in AWK. Janus Henderson Group PLC increased its stake in American Water Works by 8,104.3% during the second quarter. Janus Henderson Group PLC now owns 1,712,232 shares of the utilities provider’s stock worth $133,469,000 after acquiring an additional 1,691,362 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in American Water Works by 7,096.4% during the second quarter. Harbour Capital Advisors LLC now owns 655,949 shares of the utilities provider’s stock worth $8,415,000 after acquiring an additional 646,834 shares during the last quarter. Vanguard Group Inc. increased its stake in American Water Works by 2.6% during the second quarter. Vanguard Group Inc. now owns 18,185,767 shares of the utilities provider’s stock worth $1,417,580,000 after acquiring an additional 465,748 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in American Water Works by 72.6% during the second quarter. NN Investment Partners Holdings N.V. now owns 741,246 shares of the utilities provider’s stock worth $57,780,000 after acquiring an additional 311,901 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in American Water Works by 25.5% during the second quarter. Alliancebernstein L.P. now owns 1,329,726 shares of the utilities provider’s stock worth $103,652,000 after acquiring an additional 269,907 shares during the last quarter. Institutional investors own 79.82% 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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