Investors Buy American Water Works (AWK) on Weakness
Investors bought shares of American Water Works (NYSE:AWK) on weakness during trading on Friday. $105.41 million flowed into the stock on the tick-up and $17.77 million flowed out of the stock on the tick-down, for a money net flow of $87.64 million into the stock. Of all equities tracked, American Water Works had the 9th highest net in-flow for the day. American Water Works traded down ($0.67) for the day and closed at $89.02
A number of brokerages recently issued reports on AWK. Robert W. Baird boosted their price objective on American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Janney Montgomery Scott cut American Water Works from a “buy” rating to a “neutral” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, November 2nd. Bank of America Corporation began coverage on American Water Works in a research note on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Zacks Investment Research cut American Water Works from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. American Water Works has a consensus rating of “Hold” and an average price target of $85.63.
The stock has a market cap of $15,878.94, a PE ratio of 30.70, a price-to-earnings-growth ratio of 3.90 and a beta of 0.25. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.47 and a current ratio of 0.49.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. American Water Works had a return on equity of 9.69% and a net margin of 15.82%. The firm had revenue of $936.00 million for the quarter, compared to analysts’ expectations of $992.58 million. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue was up .6% on a year-over-year basis. equities research analysts expect that American Water Works will post 3.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, November 9th. American Water Works’s dividend payout ratio is presently 56.27%.
In other news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $82.05, for a total transaction of $273,636.75. Following the completion of the transaction, the chief operating officer now owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah A. Degillio sold 822 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $89.75, for a total value of $73,774.50. Following the transaction, the insider now directly owns 3,659 shares of the company’s stock, valued at approximately $328,395.25. The disclosure for this sale can be found here. Insiders have sold 25,360 shares of company stock valued at $2,134,195 in the last three months. 0.34% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AWK. Dimensional Fund Advisors LP grew its holdings in shares of American Water Works by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 418,472 shares of the utilities provider’s stock worth $32,541,000 after purchasing an additional 9,787 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of American Water Works by 1.2% during the second quarter. Gateway Investment Advisers LLC now owns 14,673 shares of the utilities provider’s stock worth $1,144,000 after purchasing an additional 174 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of American Water Works by 3.4% during the second quarter. LS Investment Advisors LLC now owns 8,475 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 281 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of American Water Works by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the utilities provider’s stock worth $865,000 after purchasing an additional 100 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of American Water Works by 2.4% during the second quarter. US Bancorp DE now owns 39,234 shares of the utilities provider’s stock worth $3,058,000 after purchasing an additional 926 shares in the last quarter. 79.75% of the stock is owned by institutional investors.
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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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