SFE Investment Counsel Boosts Stake in American Water Works (AWK)
SFE Investment Counsel boosted its stake in American Water Works (NYSE:AWK) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 24,630 shares of the utilities provider’s stock after buying an additional 5,084 shares during the period. SFE Investment Counsel’s holdings in American Water Works were worth $1,920,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in shares of American Water Works by 1.6% in the first quarter. Gulf International Bank UK Ltd now owns 57,882 shares of the utilities provider’s stock worth $4,501,000 after buying an additional 900 shares in the last quarter. National Pension Service raised its position in shares of American Water Works by 3.2% in the first quarter. National Pension Service now owns 157,938 shares of the utilities provider’s stock worth $12,161,000 after buying an additional 4,907 shares in the last quarter. National Investment Services Inc. WI bought a new position in shares of American Water Works during the first quarter worth approximately $1,999,000. Reilly Financial Advisors LLC raised its position in shares of American Water Works by 8.1% in the first quarter. Reilly Financial Advisors LLC now owns 14,895 shares of the utilities provider’s stock worth $1,158,000 after buying an additional 1,122 shares in the last quarter. Finally, DnB Asset Management AS raised its position in shares of American Water Works by 23.9% in the first quarter. DnB Asset Management AS now owns 23,828 shares of the utilities provider’s stock worth $1,853,000 after buying an additional 4,600 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.
Shares of American Water Works (NYSE:AWK) opened at 81.33 on Tuesday. American Water Works has a 52 week low of $69.41 and a 52 week high of $82.89. The company’s 50-day moving average price is $79.99 and its 200 day moving average price is $77.82. The company has a market cap of $14.50 billion, a P/E ratio of 30.70 and a beta of 0.25.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $844 million for the quarter, compared to analyst estimates of $869.52 million. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. American Water Works’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. On average, equities analysts forecast that American Water Works will post $3.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, August 7th. American Water Works’s dividend payout ratio (DPR) is presently 62.64%.
AWK has been the topic of a number of analyst reports. Robert W. Baird lowered American Water Works from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $69.41 to $82.00 in a report on Wednesday, April 26th. Northcoast Research initiated coverage on American Water Works in a report on Thursday, May 25th. They set a “neutral” rating on the stock. BidaskClub raised American Water Works from a “hold” rating to a “buy” rating in a 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 report on Tuesday, July 11th. Finally, 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 report on Monday, May 1st. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $82.63.
In other American Water Works news, SVP Loyd A. Warnock sold 2,236 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $75.73, for a total transaction of $169,332.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Loyd A. Warnock sold 1,263 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $75.21, for a total value of $94,990.23. Following the transaction, 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. 0.34% of the stock is owned by insiders.
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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