Cubist Systematic Strategies LLC Purchases New Stake in American Water Works (AWK)
Cubist Systematic Strategies LLC purchased a new stake in shares of American Water Works (NYSE:AWK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,609 shares of the utilities provider’s stock, valued at approximately $2,386,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its position in shares of American Water Works by 349.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 1,045 shares in the last quarter. Parallel Advisors LLC increased its position in shares of American Water Works by 24.7% during the first quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 294 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of American Water Works during the second quarter valued at approximately $118,000. Van ECK Associates Corp increased its position in shares of American Water Works by 18.0% during the first quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock valued at $120,000 after acquiring an additional 236 shares in the last quarter. Finally, Peddock Capital Advisors LLC bought a new stake in shares of American Water Works during the second quarter valued at approximately $131,000. 79.77% of the stock is owned by institutional investors.
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A number of equities research analysts have commented on AWK shares. BidaskClub downgraded shares of American Water Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $82.00 target price on shares of American Water Works in a research report on Sunday, October 1st. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research report on Friday, September 22nd. 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. Finally, Vetr downgraded shares of American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a research report on Wednesday, June 14th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $82.86.
American Water Works (NYSE AWK) traded up 0.79% during midday trading on Monday, reaching $83.42. 74,302 shares of the company’s stock were exchanged. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of 31.49 and a beta of 0.25. American Water Works has a 12-month low of $69.41 and a 12-month high of $83.46. The stock’s 50-day moving average is $81.81 and its 200-day moving average is $79.68.
American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The company had revenue of $844.00 million for the quarter, compared to analyst estimates of $869.52 million. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that American Water Works will post $3.00 earnings per share for the current year.
In other news, COO Walter Lynch sold 15,169 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $82.00, for a total value of $1,243,858.00. Following the sale, the chief operating officer now owns 111,171 shares in the company, valued at $9,116,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
American Water Works Company Profile
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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