Summit Partners Public Asset Management LLC Maintains Position in American Water Works (AWK)
Summit Partners Public Asset Management LLC continued to hold its position in American Water Works (NYSE:AWK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,000 shares of the utilities provider’s stock at the end of the second quarter. American Water Works accounts for 1.1% of Summit Partners Public Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Summit Partners Public Asset Management LLC owned 0.06% of American Water Works worth $7,795,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AWK. Cornerstone Advisors Inc. lifted its stake in shares of American Water Works by 349.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 1,045 shares during the period. Parallel Advisors LLC lifted its stake in shares of American Water Works by 24.7% in the 1st quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 294 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of American Water Works in the 2nd quarter valued at approximately $118,000. Van ECK Associates Corp lifted its stake in shares of American Water Works by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 236 shares during the period. Finally, Peddock Capital Advisors LLC purchased a new position in shares of American Water Works in the 2nd quarter valued at approximately $131,000. Institutional investors own 79.77% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Robert W. Baird restated a “hold” rating and issued a $82.00 target price on shares of American Water Works in a research note on Sunday, October 1st. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Friday, September 22nd. Zacks Investment Research cut American Water Works from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Vetr cut American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a research note on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.86.
Shares of American Water Works (NYSE:AWK) traded down 0.02% on Friday, reaching $82.89. The company’s stock had a trading volume of 150,462 shares. The firm has a 50-day moving average price of $81.77 and a 200 day moving average price of $79.63. American Water Works has a one year low of $69.41 and a one year high of $83.14. The firm has a market capitalization of $14.77 billion, a PE ratio of 31.64 and a beta of 0.25.
American Water Works (NYSE:AWK) last posted its 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 company had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. American Water Works had a return on equity of 9.70% and a net margin of 14.20%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, analysts anticipate that American Water Works will post $3.00 earnings per share for the current fiscal year.
In other news, COO Walter Lynch sold 3,335 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 94,702 shares in the company, valued at approximately $7,770,299.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.
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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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